Hodges Capital Management Inc. Has $34.71 Million Holdings in On Holding AG (NYSE:ONON)

Hodges Capital Management Inc. decreased its position in On Holding AG (NYSE:ONON - Free Report) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 633,780 shares of the company's stock after selling 8,383 shares during the period. ON accounts for about 2.1% of Hodges Capital Management Inc.'s investment portfolio, making the stock its 7th biggest position. Hodges Capital Management Inc. owned approximately 0.10% of ON worth $34,713,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ONON. Private Trust Co. NA purchased a new stake in ON during the 3rd quarter valued at about $26,000. Blue Trust Inc. boosted its position in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after acquiring an additional 403 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON in the third quarter valued at approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. Finally, Legacy Bridge LLC purchased a new stake in ON in the fourth quarter valued at $43,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ONON. Williams Trading raised ON from a "hold" rating to a "buy" rating and lifted their target price for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Bank of America started coverage on shares of ON in a research report on Tuesday, January 7th. They set a "buy" rating and a $73.00 target price on the stock. Citigroup initiated coverage on ON in a research note on Wednesday, December 18th. They issued a "neutral" rating and a $65.00 target price on the stock. Robert W. Baird raised their price objective on shares of ON from $55.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, TD Cowen increased their price target on shares of ON from $65.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ON has a consensus rating of "Moderate Buy" and a consensus target price of $59.73.

ON Stock Performance

NYSE:ONON traded up $0.68 during mid-day trading on Wednesday, reaching $59.02. 3,053,542 shares of the company's stock were exchanged, compared to its average volume of 3,384,602. The firm has a market capitalization of $37.16 billion, a PE ratio of 137.25, a price-to-earnings-growth ratio of 1.21 and a beta of 2.30. The business's fifty day simple moving average is $57.40 and its two-hundred day simple moving average is $50.77. On Holding AG has a one year low of $27.02 and a one year high of $64.05.

About ON

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