Fox Run Management L.L.C. Has $836,000 Stake in On Holding AG $ONON

Fox Run Management L.L.C. trimmed its holdings in shares of On Holding AG (NYSE:ONON) by 61.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,977 shares of the company’s stock after selling 28,824 shares during the quarter. Fox Run Management L.L.C.’s holdings in ON were worth $836,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its position in 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. MidAtlantic Capital Management Inc. acquired a new position in ON during the fourth quarter worth $27,000. TD Private Client Wealth LLC increased its position in ON by 109.9% during the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after buying an additional 421 shares during the last quarter. Bogart Wealth LLC increased its position in ON by 88.9% during the fourth quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after buying an additional 400 shares during the last quarter. Finally, United Financial Planning Group LLC acquired a new position in ON during the third quarter worth $42,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the sale, the chief executive officer directly owned 1,385,099 shares of the company’s stock, valued at approximately $49,641,948.16. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Olivier Bernhard purchased 60,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the insider owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. The trade was a 1.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838. 68.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Telsey Advisory Group lowered their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. KeyCorp lowered their target price on shares of ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Evercore set a $42.00 target price on shares of ON in a research report on Tuesday, May 12th. Finally, Raymond James Financial raised ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a research report on Thursday, April 23rd. Two equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.05.

ON Trading Down 0.4%

Shares of NYSE:ONON opened at $38.09 on Thursday. The company has a market cap of $24.31 billion, a P/E ratio of 40.96, a P/E/G ratio of 0.74 and a beta of 2.10. The stock’s 50-day moving average is $36.40 and its 200-day moving average is $41.77. On Holding AG has a 52-week low of $31.41 and a 52-week high of $58.08. 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 issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. The company had revenue of $1.04 billion for 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 firm’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. Equities research analysts predict that On Holding AG will post 1.47 earnings per share for the current year.

About ON

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.