4,766 Shares in On Holding AG $ONON Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new position in On Holding AG (NYSE:ONON) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,766 shares of the company’s stock, valued at approximately $248,000.

Other hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its position in shares of ON by 106.6% in the second quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock worth $3,570,000 after buying an additional 35,391 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in ON by 36.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company’s stock worth $494,000 after acquiring an additional 3,025 shares during the last quarter. Citigroup Inc. increased its stake in ON by 73.1% during the first quarter. Citigroup Inc. now owns 213,127 shares of the company’s stock worth $9,361,000 after acquiring an additional 89,982 shares during the last quarter. Red Spruce Capital LLC increased its stake in ON by 64.8% during the second quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock worth $1,851,000 after acquiring an additional 13,980 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in ON by 151.2% during the first quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company’s stock worth $829,000 after acquiring an additional 11,362 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Up 2.2%

Shares of NYSE ONON opened at $43.21 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The firm has a market capitalization of $27.21 billion, a price-to-earnings ratio of 96.02, a PEG ratio of 5.25 and a beta of 2.19. The stock has a 50 day moving average price of $43.82 and a 200 day moving average price of $48.64. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). The firm had revenue of $944.29 million during the quarter, compared to analysts’ expectations of $707.74 million. ON had a net margin of 4.45% and a return on equity of 8.75%. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. ON has set its FY 2025 guidance at EPS. Sell-side analysts expect that On Holding AG will post 0.66 earnings per share for the current year.

Analyst Ratings Changes

ONON has been the topic of several analyst reports. Raymond James Financial reduced their price objective on ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $62.00 price objective on shares of ON in a research note on Tuesday, August 12th. Barclays upped their target price on ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Zacks Research cut ON from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, TD Cowen cut their target price on ON from $63.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.10.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.