OMERS ADMINISTRATION Corp Takes Position in On Holding AG $ONON

OMERS ADMINISTRATION Corp bought a new position in On Holding AG (NYSE:ONON) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 167,379 shares of the company’s stock, valued at approximately $5,694,000.

Several other large investors have also recently modified their holdings of ONON. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in ON by 54.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock worth $8,320,000 after purchasing an additional 62,500 shares during the period. Robinhood Asset Management LLC purchased a new position in shares of ON during the fourth quarter valued at approximately $4,747,000. One Capital Management LLC bought a new position in shares of ON during the fourth quarter valued at approximately $8,887,000. RFG Advisory LLC bought a new position in shares of ON during the fourth quarter valued at approximately $1,343,000. Finally, Norges Bank purchased a new stake in shares of ON in the fourth quarter worth approximately $128,826,000. Institutional investors own 36.39% of the company’s stock.

ON Price Performance

ONON opened at $35.89 on Monday. The business’s 50-day moving average is $37.67 and its two-hundred day moving average is $39.65. 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 $52.41. The firm has a market capitalization of $22.90 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 0.67 and a beta of 2.12.

ON (NYSE:ONON) last announced its 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. ON had a return on equity of 15.72% and a net margin of 7.92%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company posted $0.21 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts anticipate that On Holding AG will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at ON

In other ON news, CEO David Michael Allemann bought 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the purchase, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. The trade was a 2.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Caspar Felix Coppetti purchased 60,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $36.64 per share, with a total value 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 approximately $87,051,327.20. The trade was a 2.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 180,000 shares of company stock valued at $6,594,000 over the last ninety days.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. 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 research note on Tuesday, May 12th. Barclays reduced their target price on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Telsey Advisory Group lowered their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Evercore set a $42.00 price target on shares of ON in a report on Tuesday, May 12th. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.79.

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.