Geode Capital Management LLC Purchases 67,239 Shares of On Holding AG $ONON

Geode Capital Management LLC increased its stake in On Holding AG (NYSE:ONON) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,490,827 shares of the company’s stock after acquiring an additional 67,239 shares during the quarter. Geode Capital Management LLC owned about 0.24% of ON worth $69,294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ONON. Cullen Frost Bankers Inc. lifted its stake in shares of ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after acquiring an additional 421 shares during the period. Bogart Wealth LLC lifted its stake in shares of ON by 88.9% in the fourth quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after acquiring an additional 400 shares during the period. United Financial Planning Group LLC acquired a new position in shares of ON in the third quarter worth approximately $42,000. Finally, Horizon Investments LLC acquired a new position in shares of ON in the third quarter worth approximately $44,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC cut their price objective on ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. UBS Group reaffirmed a “buy” rating on shares of ON in a research note on Thursday, February 19th. Evercore set a $42.00 price objective on ON in a research note on Tuesday, May 12th. KeyCorp dropped their price target on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of ON in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.05.

Insider Transactions at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the completion of the sale, the chief executive officer owned 1,385,099 shares in the company, valued at $49,641,948.16. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann acquired 60,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the acquisition, the chief executive officer owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838.

ON Trading Up 0.1%

NYSE ONON opened at $37.11 on Tuesday. The company has a market cap of $23.68 billion, a price-to-earnings ratio of 39.90, a P/E/G ratio of 0.72 and a beta of 2.10. On Holding AG has a 52 week low of $31.41 and a 52 week high of $58.08. The business has a 50 day moving average price of $36.16 and a 200-day moving average price of $41.82. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, equities analysts expect that On Holding AG will post 1.47 earnings per share for the current fiscal year.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.