Hodges Capital Management Inc. Purchases 30,864 Shares of On Holding AG $ONON

Hodges Capital Management Inc. increased its position in On Holding AG (NYSE:ONON) by 9.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 369,250 shares of the company’s stock after buying an additional 30,864 shares during the period. ON comprises approximately 1.5% of Hodges Capital Management Inc.’s holdings, making the stock its 16th largest position. Hodges Capital Management Inc. owned 0.06% of ON worth $17,163,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ONON. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in ON by 54.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock worth $8,320,000 after purchasing an additional 62,500 shares in the last quarter. Robinhood Asset Management LLC purchased a new stake in ON in the 4th quarter worth $4,747,000. Sands Capital Management LLC lifted its stake in ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after purchasing an additional 2,155,083 shares in the last quarter. American Century Companies Inc. lifted its stake in ON by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after purchasing an additional 365,907 shares in the last quarter. Finally, One Capital Management LLC purchased a new stake in ON in the 4th quarter worth $8,887,000. Institutional investors own 36.39% of the company’s stock.

ON Trading Down 0.4%

ONON opened at $38.09 on Thursday. The firm has a market cap of $24.31 billion, a P/E ratio of 40.96, a P/E/G ratio of 0.74 and a beta of 2.10. On Holding AG has a 12 month low of $31.41 and a 12 month high of $58.08. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $36.40 and a 200 day moving average of $41.77.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on ONON. Weiss Ratings upgraded shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Raymond James Financial raised 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. Guggenheim reissued a “buy” rating and issued a $51.00 price objective on shares of ON in a research note on Wednesday, May 13th. Needham & Company LLC decreased their target price on shares of ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Finally, Truist Financial lowered their price target on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Two equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.05.

Insider Buying and Selling

In related news, CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the chief executive officer owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. The trade was a 2.16% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction dated 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 directly owned 1,385,099 shares in the company, valued at $49,641,948.16. This trade represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have purchased 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838. Corporate insiders own 68.57% of the company’s stock.

ON 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.