KG&L Capital Management LLC Takes Position in On Holding AG (NYSE:ONON)

KG&L Capital Management LLC purchased a new stake in On Holding AG (NYSE:ONON) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,485 shares of the company’s stock, valued at approximately $275,000.

A number of other institutional investors also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after acquiring an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. Quarry LP acquired a new stake in shares of ON in the second quarter valued at about $32,000. MFA Wealth Advisors LLC acquired a new stake in shares of ON in the third quarter valued at about $50,000. Finally, nVerses Capital LLC acquired a new stake in shares of ON in the third quarter valued at about $65,000. 33.11% of the stock is currently owned by institutional investors.

ON Trading Down 0.4 %

Shares of ONON stock opened at $46.30 on Tuesday. The stock has a market cap of $29.15 billion, a P/E ratio of 87.36 and a beta of 2.25. The stock has a 50 day simple moving average of $48.67 and a 200 day simple moving average of $42.13. On Holding AG has a 1 year low of $24.15 and a 1 year high of $52.80.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $634.43 million. Analysts forecast that On Holding AG will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore ISI raised ON to an “overweight” rating and boosted their price target for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. Bank of America raised ON from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Barclays boosted their price target on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. HSBC assumed coverage on ON in a research report on Thursday, September 5th. They set a “hold” rating and a $52.00 price target on the stock. Finally, Truist Financial boosted their price target on ON from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.05.

About ON

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.