On Holding AG (NYSE:ONON) Position Increased by KRS Capital Management LLC

KRS Capital Management LLC increased its position in shares of On Holding AG (NYSE:ONON) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,075 shares of the company’s stock after acquiring an additional 1,700 shares during the period. KRS Capital Management LLC’s holdings in ON were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ONON. American Century Companies Inc. grew its position in ON by 109.3% during the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after buying an additional 3,428,794 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in ON by 36.2% during the fourth quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock valued at $85,225,000 after purchasing an additional 840,600 shares in the last quarter. Norges Bank acquired a new stake in ON during the fourth quarter valued at approximately $57,916,000. Jericho Capital Asset Management L.P. acquired a new stake in ON during the third quarter valued at approximately $59,539,000. Finally, Rokos Capital Management LLP boosted its holdings in ON by 642.3% during the third quarter. Rokos Capital Management LLP now owns 2,075,457 shares of the company’s stock valued at $58,268,000 after purchasing an additional 1,795,849 shares in the last quarter. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Down 0.6 %

Shares of ONON stock traded down $0.23 on Friday, reaching $38.80. The stock had a trading volume of 7,246,963 shares, compared to its average volume of 4,472,952. The firm has a market capitalization of $24.43 billion, a price-to-earnings ratio of 88.18, a P/E/G ratio of 1.15 and a beta of 2.27. On Holding AG has a 12 month low of $23.41 and a 12 month high of $44.30. The firm’s 50-day moving average is $37.82 and its two-hundred day moving average is $33.17.

ON (NYSE:ONON) last announced its earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The firm had revenue of $581.41 million for the quarter, compared to analyst estimates of $555.52 million. On average, sell-side analysts forecast that On Holding AG will post 0.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on ONON. Sanford C. Bernstein began coverage on shares of ON in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 price objective for the company. TheStreet cut shares of ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. Morgan Stanley restated an “overweight” rating and issued a $40.00 price objective on shares of ON in a research report on Friday, June 21st. Stifel Nicolaus restated a “buy” rating and issued a $41.00 price objective on shares of ON in a research report on Thursday, May 16th. Finally, Evercore ISI boosted their price objective on shares of ON from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

About ON

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.