Americana Partners LLC Buys 2,424 Shares of On Holding AG (NYSE:ONON)

Americana Partners LLC grew its stake in On Holding AG (NYSE:ONON) by 43.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,060 shares of the company’s stock after purchasing an additional 2,424 shares during the period. Americana Partners LLC’s holdings in ON were worth $404,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. William Blair Investment Management LLC bought a new stake in shares of ON in the 1st quarter valued at approximately $121,712,000. Price T Rowe Associates Inc. MD lifted its stake in shares of ON by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock valued at $98,636,000 after purchasing an additional 14,674 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after purchasing an additional 2,406,200 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of ON in the 1st quarter valued at approximately $65,898,000. Finally, Acadian Asset Management LLC lifted its stake in shares of ON by 574.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after acquiring an additional 1,315,006 shares during the last quarter. 33.11% of the stock is owned by institutional investors.

ON Trading Down 2.0 %

Shares of NYSE:ONON opened at $46.49 on Friday. On Holding AG has a 12-month low of $24.15 and a 12-month high of $52.80. The business’s fifty day simple moving average is $48.62 and its 200-day simple moving average is $41.81. The company has a market capitalization of $29.27 billion, a PE ratio of 87.72 and a beta of 2.24.

ON (NYSE:ONON) last announced its quarterly earnings results 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). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. Research analysts predict that On Holding AG will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of research analyst reports. Evercore ISI raised ON to an “overweight” rating and raised their price target for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. Barclays raised their price target on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Raymond James initiated coverage on ON in a research note on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price target for the company. TD Cowen raised their price target on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, KeyCorp raised their price target on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.74.

ON 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.