On Holding AG $ONON Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in shares of On Holding AG (NYSE:ONON) by 40.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,126,297 shares of the company’s stock after buying an additional 613,063 shares during the period. Franklin Resources Inc.’s holdings in ON were worth $98,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its stake in shares of ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after buying an additional 467 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON during the fourth quarter worth $27,000. TD Private Client Wealth LLC lifted its stake in shares of ON by 109.9% during the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after buying an additional 421 shares during the period. Bogart Wealth LLC lifted its stake in shares of ON by 88.9% during the fourth quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after buying an additional 400 shares during the period. Finally, United Financial Planning Group LLC acquired a new stake in shares of ON during the third quarter worth $42,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ON

In other ON news, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction on Monday, April 27th. The shares were sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of the transaction, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at approximately $49,641,948.16. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Caspar Felix Coppetti acquired 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the acquisition, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This represents a 2.59% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838. Insiders own 68.57% of the company’s stock.

ON Trading Down 0.4%

Shares of ON stock opened at $38.09 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. The firm has a fifty day moving average price of $36.40 and a 200 day moving average price of $41.77. On Holding AG has a 1 year low of $31.41 and a 1 year high of $58.08. The stock has a market cap of $24.31 billion, a PE ratio of 40.96, a price-to-earnings-growth ratio of 0.74 and a beta of 2.10.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. ON had a net margin of 7.92% and a return on equity of 15.72%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company posted $0.21 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts predict that On Holding AG will post 1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ONON. Truist Financial lowered their price objective on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Needham & Company LLC lowered their price objective on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research note on Thursday, April 23rd. Stifel Nicolaus set a $58.00 target price on shares of ON in a report on Tuesday, March 3rd. Finally, Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.05.

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.