On Holding AG (NYSE:ONON) Shares Bought by First National Bank of Hutchinson

First National Bank of Hutchinson grew its position in On Holding AG (NYSE:ONON) by 64.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,217 shares of the company’s stock after purchasing an additional 4,011 shares during the period. First National Bank of Hutchinson’s holdings in ON were worth $512,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the period. Quarry LP acquired a new position in shares of ON in the 2nd quarter valued at about $32,000. MFA Wealth Advisors LLC purchased a new stake in shares of ON in the third quarter worth about $50,000. WD Rutherford LLC purchased a new stake in shares of ON in the first quarter worth about $52,000. Finally, Asset Dedication LLC raised its position in ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after acquiring an additional 327 shares in the last quarter. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

ONON opened at $47.36 on Thursday. The company’s 50 day simple moving average is $47.84 and its two-hundred day simple moving average is $41.18. The firm has a market capitalization of $29.82 billion, a price-to-earnings ratio of 89.36 and a beta of 2.24. On Holding AG has a 1-year low of $24.15 and a 1-year high of $52.80.

ON (NYSE:ONON) 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). ON had a return on equity of 13.02% and a net margin of 7.42%. The company had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. On average, equities analysts anticipate that On Holding AG will post 0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Telsey Advisory Group restated an “outperform” rating and issued a $47.00 price objective on shares of ON in a research report on Tuesday, August 13th. TD Cowen raised their price target on shares of ON from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, September 30th. KeyCorp lifted their price objective on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Hsbc Global Res raised shares of ON to a “hold” rating in a research note on Thursday, September 5th. Finally, Piper Sandler lifted their price target on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.74.

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.