Forte Capital LLC ADV Invests $742,000 in On Holding AG (NYSE:ONON)

Forte Capital LLC ADV bought a new stake in On Holding AG (NYSE:ONON - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,800 shares of the company's stock, valued at approximately $742,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ONON. Ameritas Advisory Services LLC raised its holdings in shares of ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company's stock worth $924,000 after acquiring an additional 300 shares during the period. Capital Advisors Inc. OK raised its stake in ON by 5.1% during the third quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company's stock worth $310,000 after purchasing an additional 301 shares during the period. Artemis Investment Management LLP boosted its holdings in ON by 1.9% in the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company's stock valued at $637,000 after purchasing an additional 302 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company's stock valued at $404,000 after buying an additional 325 shares during the period. Finally, Asset Dedication LLC increased its holdings in shares of ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company's stock worth $62,000 after buying an additional 327 shares during the last quarter. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Price Performance

Shares of ON stock traded up $1.14 on Friday, reaching $51.52. 4,767,793 shares of the company were exchanged, compared to its average volume of 3,027,877. The stock's 50 day moving average price is $48.85 and its 200-day moving average price is $42.47. The company has a market cap of $32.44 billion, a P/E ratio of 97.21 and a beta of 2.25. On Holding AG has a 1-year low of $24.15 and a 1-year high of $52.80.

ON (NYSE:ONON - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). The firm had revenue of $627.66 million during the quarter, compared to analysts' expectations of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. On average, research analysts predict that On Holding AG will post 0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Morgan Stanley increased their price objective on ON from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Telsey Advisory Group boosted their price objective on shares of ON from $47.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday. Stifel Nicolaus lifted their price target on shares of ON from $45.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. UBS Group boosted their price target on shares of ON from $55.00 to $61.00 and gave the company a "buy" rating in a research note on Monday. Finally, Truist Financial increased their price objective on shares of ON from $51.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.37.

ON 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.