River Street Advisors LLC Acquires New Position in On Holding AG (NYSE:ONON)

River Street Advisors LLC acquired a new stake in On Holding AG (NYSE:ONON) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,650 shares of the company’s stock, valued at approximately $183,000.

Several other large investors have also bought and sold shares of the business. Blue Trust Inc. raised its holdings in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the period. Quarry LP acquired a new stake in shares of ON during the second quarter worth $32,000. MFA Wealth Advisors LLC acquired a new stake in shares of ON during the third quarter worth $50,000. Finally, Asset Dedication LLC raised its holdings in shares of ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after acquiring an additional 327 shares during the period. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Down 2.7 %

ONON stock traded down $1.43 during midday trading on Friday, reaching $51.92. 2,616,893 shares of the company’s stock traded hands, compared to its average volume of 4,974,211. The company has a market cap of $32.69 billion, a price-to-earnings ratio of 120.74 and a beta of 2.25. The firm’s fifty day moving average price is $49.56 and its 200-day moving average price is $43.17. On Holding AG has a 52 week low of $25.78 and a 52 week high of $56.44.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. ON had a return on equity of 11.02% and a net margin of 5.87%. Analysts forecast that On Holding AG will post 0.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of ON from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial boosted their target price on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays raised their price target on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday. KeyCorp raised their price target on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird increased their price objective on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.