On Holding AG $ONON Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. lifted its holdings in On Holding AG (NYSE:ONON) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,194,774 shares of the company’s stock after purchasing an additional 63,932 shares during the quarter. Bessemer Group Inc. owned 0.19% of ON worth $40,647,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Sanctuary Advisors LLC grew its position in ON by 21.4% in the 1st quarter. Sanctuary Advisors LLC now owns 39,390 shares of the company’s stock valued at $1,340,000 after buying an additional 6,950 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of ON by 118.8% in the 1st quarter. Principal Financial Group Inc. now owns 10,104 shares of the company’s stock worth $344,000 after acquiring an additional 5,487 shares during the period. AlpenGlobal Capital LLC acquired a new stake in shares of ON in the 1st quarter worth approximately $1,309,000. Kestra Advisory Services LLC lifted its stake in shares of ON by 5.3% in the 1st quarter. Kestra Advisory Services LLC now owns 20,246 shares of the company’s stock worth $689,000 after acquiring an additional 1,014 shares during the period. Finally, Shelton Wealth Management LLC boosted its holdings in shares of ON by 15.1% in the first quarter. Shelton Wealth Management LLC now owns 33,193 shares of the company’s stock valued at $1,129,000 after acquiring an additional 4,356 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Price Performance

NYSE ONON opened at $37.22 on Friday. The stock has a market capitalization of $23.75 billion, a P/E ratio of 40.02, a P/E/G ratio of 0.71 and a beta of 2.12. On Holding AG has a 1 year low of $31.41 and a 1 year high of $54.37. The business’s fifty day moving average is $37.57 and its two-hundred day moving average is $40.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 EPS. On average, research analysts forecast that On Holding AG will post 1.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ONON has been the subject of a number of research reports. Telsey Advisory Group decreased their price target on ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. JPMorgan Chase & Co. assumed coverage on ON in a research note on Thursday, July 2nd. They issued an “overweight” rating and a $51.00 price objective on the stock. Barclays dropped their price objective on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. KeyCorp cut their price objective on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, Raymond James Financial raised ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price for the company in a research note on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $53.79.

Insider Buying and Selling

In related news, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of the transaction, the chief executive officer owned 1,385,099 shares in the company, valued at $49,641,948.16. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Caspar Felix Coppetti acquired 60,000 shares of ON stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the purchase, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at approximately $87,051,327.20. This represents a 2.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 180,000 shares of company stock worth $6,594,000. Company insiders own 68.57% of the company’s stock.

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.