Victory Capital Management Inc. Acquires 177,280 Shares of On Holding AG (NYSE:ONON)

Victory Capital Management Inc. grew its holdings in On Holding AG (NYSE:ONON - Free Report) by 22.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 977,241 shares of the company's stock after purchasing an additional 177,280 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of ON worth $26,356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ONON. Spire Wealth Management boosted its position in ON by 91.0% during the 3rd quarter. Spire Wealth Management now owns 972 shares of the company's stock worth $27,000 after acquiring an additional 463 shares during the period. Global Wealth Management Investment Advisory Inc. acquired a new position in ON in the 4th quarter valued at approximately $33,000. Asset Dedication LLC acquired a new stake in shares of ON during the 3rd quarter valued at $35,000. Signaturefd LLC grew its holdings in shares of ON by 816.7% during the 3rd quarter. Signaturefd LLC now owns 1,375 shares of the company's stock valued at $38,000 after acquiring an additional 1,225 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of ON by 63.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company's stock worth $42,000 after acquiring an additional 592 shares in the last quarter. Institutional investors and hedge funds own 33.11% of the company's stock.

ON Stock Down 3.0 %

Shares of ONON stock traded down $1.03 during mid-day trading on Wednesday, reaching $32.98. The stock had a trading volume of 3,243,048 shares, compared to its average volume of 4,975,266. The firm's 50 day simple moving average is $33.23 and its 200 day simple moving average is $30.07. The firm has a market cap of $20.77 billion, a PE ratio of 122.15, a P/E/G ratio of 1.16 and a beta of 2.17. On Holding AG has a one year low of $23.41 and a one year high of $37.08.

ON (NYSE:ONON - Get Free Report) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.18). The business had revenue of $504.69 million during the quarter, compared to analyst estimates of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. Sell-side analysts forecast that On Holding AG will post 0.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ONON. Redburn Atlantic reaffirmed a "neutral" rating and set a $34.00 price target on shares of ON in a research note on Thursday, March 7th. Piper Sandler boosted their target price on shares of ON from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. TheStreet lowered shares of ON from a "c" rating to a "d+" rating in a research note on Monday, March 18th. TD Cowen raised their target price on ON from $36.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $40.00 price target on shares of ON in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.53.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.