Hodges Capital Management Inc. Lowers Stake in On Holding AG $ONON

Hodges Capital Management Inc. cut its holdings in On Holding AG (NYSE:ONON) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 354,671 shares of the company’s stock after selling 14,579 shares during the quarter. Hodges Capital Management Inc. owned about 0.06% of ON worth $12,066,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ONON. Cullen Frost Bankers Inc. grew its holdings 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 last quarter. Caitlin John LLC purchased a new stake in ON during the 4th quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. purchased a new stake in ON during the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its position in ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after acquiring an additional 594 shares during the period. Finally, Ascentis Independent Advisors acquired a new stake in ON during the 1st quarter worth approximately $34,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. KeyCorp dropped their target price on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Needham & Company LLC decreased their price target on ON from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Barclays dropped their price objective on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Telsey Advisory Group cut their price objective on shares of ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Truist Financial lowered their target price on shares of ON from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.79.

ON Stock Down 0.1%

ON stock opened at $36.81 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. On Holding AG has a 1-year low of $31.41 and a 1-year high of $54.72. The company has a market cap of $23.49 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 0.68 and a beta of 2.12. The stock’s 50 day moving average price is $37.22 and its 200 day moving average price is $40.76.

ON (NYSE:ONON) last released its quarterly earnings data 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 return on equity of 15.72% and a net margin of 7.92%.The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. ON’s revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts predict that On Holding AG will post 1.5 EPS for the current fiscal year.

Insider Activity at ON

In related news, CEO Caspar Felix Coppetti bought 60,000 shares of the stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the transaction, the chief executive officer 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Olivier Bernhard bought 60,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the insider owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. This represents a 1.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 180,000 shares of company stock worth $6,594,000 and have sold 12,450 shares worth $441,352.

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.