KRS Capital Management LLC Purchases 1,700 Shares of On Holding AG (NYSE:ONON)

KRS Capital Management LLC increased its position in shares of On Holding AG (NYSE:ONON) by 13.7% during the 1st quarter, Holdings Channel reports. The firm owned 14,075 shares of the company’s stock after acquiring an additional 1,700 shares during the period. KRS Capital Management LLC’s holdings in ON were worth $498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in ON by 4.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock valued at $46,076,000 after acquiring an additional 76,746 shares in the last quarter. Rheos Capital Works Inc. purchased a new position in shares of ON in the 1st quarter worth $10,614,000. Wellington Management Group LLP purchased a new position in shares of ON in the 4th quarter worth $34,420,000. China Universal Asset Management Co. Ltd. grew its stake in shares of ON by 127.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock worth $3,549,000 after buying an additional 73,839 shares in the last quarter. Finally, Stephens Inc. AR grew its stake in shares of ON by 7.3% in the 4th quarter. Stephens Inc. AR now owns 32,150 shares of the company’s stock worth $867,000 after buying an additional 2,200 shares in the last quarter. 33.11% of the stock is currently owned by institutional investors.

ON Price Performance

Shares of NYSE:ONON traded down $0.23 during trading hours on Friday, hitting $38.80. The company’s stock had a trading volume of 7,246,963 shares, compared to its average volume of 4,472,952. On Holding AG has a 52 week low of $23.41 and a 52 week high of $44.30. The company has a market capitalization of $24.43 billion, a price-to-earnings ratio of 88.18, a P/E/G ratio of 1.15 and a beta of 2.27. The firm’s fifty day moving average price is $37.82 and its 200 day moving average price is $33.17.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The business had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. On average, equities research analysts predict that On Holding AG will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONON has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. UBS Group lifted their price objective on shares of ON from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Morgan Stanley restated an “overweight” rating and issued a $40.00 target price on shares of ON in a report on Friday, June 21st. Stifel Nicolaus restated a “buy” rating and issued a $41.00 target price on shares of ON in a report on Thursday, May 16th. Finally, Telsey Advisory Group raised their target price on shares of ON from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.00.

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.