132,140 Shares in On Holding AG $ONON Bought by B.A. Schrock Wealth Management Inc.

Key Points

• B.A. Schrock Wealth Management acquired 132,140 shares of On Holding, worth approximately $3.99 million, making ON its 24th-largest portfolio holding. Institutional investors collectively own 36.39% of the company.
• On Holding reported quarterly EPS of $0.35, below the $0.42 analyst consensus, while revenue of $1.05 billion also missed estimates but increased 13.5% year over year.
• Wall Street maintains a “Moderate Buy” consensus rating, with an average price target of $43.17 versus the stock’s reported price of $35.45; insiders, including the CEO and co-founder, also purchased shares.

B.A. Schrock Wealth Management Inc. bought a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 132,140 shares of the company's stock, valued at approximately $3,991,000. ON accounts for about 1.3% of B.A. Schrock Wealth Management Inc.'s investment portfolio, making the stock its 24th largest position.

Other large investors have also modified their holdings of the company. Platinum Paramount Investment LTD. purchased a new stake in shares of ON in the fourth quarter valued at approximately $525,784,000. Bamco Inc. NY grew its holdings in ON by 13.9% during the fourth quarter. Bamco Inc. NY now owns 5,405,486 shares of the company's stock worth $251,247,000 after acquiring an additional 658,933 shares during the period. Wellington Management Group LLP raised its position in ON by 2.3% in the second quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company's stock worth $97,462,000 after acquiring an additional 62,404 shares in the last quarter. Bessemer Group Inc. raised its position in ON by 5.7% in the first quarter. Bessemer Group Inc. now owns 1,194,774 shares of the company's stock worth $40,647,000 after acquiring an additional 63,932 shares in the last quarter. Finally, APEIRON CAPITAL Ltd raised its position in ON by 25.2% in the first quarter. APEIRON CAPITAL Ltd now owns 996,052 shares of the company's stock worth $33,886,000 after acquiring an additional 200,200 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Trading Down 0.1%

Shares of ONON opened at $35.45 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25. The firm has a 50 day simple moving average of $30.44 and a 200-day simple moving average of $34.47. On Holding AG has a 1-year low of $26.36 and a 1-year high of $51.08. The stock has a market cap of $22.62 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 0.70 and a beta of 2.08.

ON (NYSE:ONON - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.07). ON had a net margin of 12.09% and a return on equity of 22.92%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company posted ($0.09) EPS. ON's quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that On Holding AG will post 1.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on ONON. BMO Capital Markets raised their target price on ON from $28.00 to $33.00 and gave the company a "market perform" rating in a report on Thursday, September 24th. BTIG Research reaffirmed a "buy" rating and set a $60.00 price target on shares of ON in a research note on Wednesday, September 23rd. Robert W. Baird cut their price target on shares of ON from $70.00 to $55.00 and set an "outperform" rating for the company in a report on Wednesday, August 12th. Citigroup reiterated a "buy" rating on shares of ON in a report on Wednesday, September 23rd. Finally, Bank of America reduced their price objective on shares of ON from $46.00 to $43.00 and set a "buy" rating for the company in a research note on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.17.

Insiders Place Their Bets

In related news, insider Olivier Bernhard acquired 65,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the purchase, the insider directly owned 5,228,184 shares in the company, valued at approximately $160,348,403.28. The trade was a 1.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Caspar Coppetti acquired 65,000 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the chief executive officer owned 2,440,855 shares in the company, valued at $74,861,022.85. This represents a 2.74% increase in their position. The disclosure for this purchase is available in the SEC filing. 68.57% of the stock is owned by company insiders.

ON Profile

On Holding AG, trading on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company focused on performance footwear, apparel and accessories. The company serves athletes and active consumers with products designed for running, training, outdoor activities and everyday wear.

On is best known for its running shoes, which incorporate the company's CloudTec cushioning technology and distinctive sole designs. Its product portfolio also includes athletic clothing, apparel and accessories, with offerings positioned across both performance and lifestyle categories.

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