Chickasaw Capital Management LLC Invests $799,000 in On Holding AG $ONON

Key Points

• Chickasaw Capital Management LLC has acquired 15,360 shares of On Holding AG, valued at approximately $799,000, signaling increased institutional interest in the stock.
• On Holding AG's stock currently has a market capitalization of $27.58 billion and a P/E ratio of 97.34, with a 52-week low of $34.59 and a high of $64.05.
• Analysts have varying perspectives on ONON, with targets ranging from $40.00 to $69.00, reflecting diverse opinions on the stock's future performance.

Chickasaw Capital Management LLC bought a new stake in shares of On Holding AG (NYSE:ONON - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,360 shares of the company's stock, valued at approximately $799,000.

Several other hedge funds have also recently bought and sold shares of the business. Montag A & Associates Inc. acquired a new stake in ON during the 1st quarter worth about $26,000. TCTC Holdings LLC raised its stake in shares of ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after acquiring an additional 315 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in ON in the 4th quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB acquired a new stake in ON in the 1st quarter valued at approximately $32,000. Finally, Smartleaf Asset Management LLC grew its holdings in ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock valued at $42,000 after buying an additional 916 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Telsey Advisory Group reissued an "outperform" rating and set a $65.00 price objective on shares of ON in a report on Thursday, August 7th. Jefferies Financial Group set a $40.00 price objective on ON and gave the company an "underperform" rating in a research report on Wednesday, August 13th. UBS Group boosted their target price on ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Raymond James Financial downgraded ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price objective for the company. in a report on Tuesday, July 22nd. Finally, Barclays upped their price objective on ON from $68.00 to $69.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $64.20.

ON Stock Performance

Shares of ONON traded up $1.16 during mid-day trading on Thursday, reaching $45.00. The company's stock had a trading volume of 5,903,818 shares, compared to its average volume of 4,712,421. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The stock has a market cap of $28.33 billion, a P/E ratio of 100.00, a PEG ratio of 5.66 and a beta of 2.23. The business has a 50-day simple moving average of $47.24 and a two-hundred day simple moving average of $49.12. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.