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

Hodges Capital Management Inc. reduced its stake in shares of On Holding AG (NYSE:ONON) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 633,780 shares of the company’s stock after selling 8,383 shares during the quarter. ON comprises about 2.1% of Hodges Capital Management Inc.’s portfolio, making the stock its 7th biggest position. Hodges Capital Management Inc.’s holdings in ON were worth $34,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Advisors Inc. OK boosted its position in ON by 5.1% in the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock valued at $310,000 after buying an additional 301 shares during the last quarter. Sage Capital Advisors llc increased its position in ON by 0.3% in the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock worth $5,008,000 after purchasing an additional 328 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the last quarter. Blue Trust Inc. lifted its position in ON by 319.8% during the 3rd 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. Finally, Private Trust Co. NA bought a new position in shares of ON in the 3rd quarter valued at about $26,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ONON. The Goldman Sachs Group increased their price objective on shares of ON from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Truist Financial raised their price target on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup initiated coverage on ON in a research note on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective for the company. Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price target on shares of ON in a research note on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.73.

ON Price Performance

ONON stock opened at $59.90 on Monday. The stock has a market capitalization of $37.72 billion, a P/E ratio of 139.31, a P/E/G ratio of 1.21 and a beta of 2.30. On Holding AG has a fifty-two week low of $26.22 and a fifty-two week high of $64.05. The business has a 50-day moving average of $57.40 and a 200-day moving average of $50.52.

ON Company Profile

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.