US Bancorp DE Has $885,000 Holdings in On Holding AG (NYSE:ONON)

US Bancorp DE increased its stake in On Holding AG (NYSE:ONON - Free Report) by 207.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,649 shares of the company's stock after acquiring an additional 11,914 shares during the period. US Bancorp DE's holdings in ON were worth $885,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blair William & Co. IL bought a new stake in shares of ON in the 1st quarter worth approximately $502,000. Acadian Asset Management LLC purchased a new stake in shares of ON during the first quarter valued at $8,094,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company's stock worth $49,716,000 after purchasing an additional 642,894 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of ON in the first quarter worth approximately $521,000. Finally, Coronation Fund Managers Ltd. raised its holdings in shares of ON by 248.6% during the second quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company's stock valued at $6,010,000 after acquiring an additional 110,467 shares during the period. Institutional investors and hedge funds own 33.11% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ONON shares. Barclays raised their target price on ON from $40.00 to $47.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Morgan Stanley raised their price target on ON from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. Piper Sandler increased their price objective on ON from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Thursday, October 3rd. Evercore ISI raised shares of ON to an "overweight" rating and raised their price objective for the company from $43.00 to $47.00 in a research report on Monday, August 12th. Finally, Raymond James began coverage on shares of ON in a research report on Wednesday, July 31st. They issued an "outperform" rating and a $46.00 target price for the company. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, ON currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.37.

ON Stock Up 2.2 %

Shares of ONON stock traded up $1.11 during trading hours on Friday, reaching $51.49. The company's stock had a trading volume of 4,770,503 shares, compared to its average volume of 3,119,410. On Holding AG has a fifty-two week low of $24.15 and a fifty-two week high of $52.80. The company has a market capitalization of $32.42 billion, a price-to-earnings ratio of 97.15 and a beta of 2.25. The firm's 50 day simple moving average is $48.85 and its 200-day simple moving average is $42.61.

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

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.