California First Leasing Corp Acquires 19,200 Shares of On Holding AG (NYSE:ONON)

California First Leasing Corp boosted its holdings in On Holding AG (NYSE:ONON) by 112.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,200 shares of the company’s stock after acquiring an additional 19,200 shares during the quarter. California First Leasing Corp’s holdings in ON were worth $976,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in shares of ON by 7.6% in the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock worth $219,416,000 after purchasing an additional 554,513 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of ON by 109.3% in the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after purchasing an additional 3,428,794 shares in the last quarter. Bamco Inc. NY boosted its holdings in shares of ON by 243.0% in the 3rd quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock worth $84,239,000 after purchasing an additional 2,145,318 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of ON by 2.7% in the 3rd quarter. Invesco Ltd. now owns 2,908,297 shares of the company’s stock worth $80,909,000 after purchasing an additional 76,518 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of ON in the 3rd quarter worth about $59,539,000. 33.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ONON has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating and set a $32.00 target price on shares of ON in a report on Monday. Piper Sandler increased their target price on ON from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Barclays initiated coverage on ON in a report on Monday, April 1st. They set an “overweight” rating and a $38.00 target price for the company. Redburn Atlantic restated a “neutral” rating and set a $34.00 target price on shares of ON in a report on Thursday, March 7th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $37.00 price objective on shares of ON in a report on Wednesday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ON has an average rating of “Moderate Buy” and a consensus target price of $37.13.

ON Price Performance

ONON stock traded up $0.85 on Friday, reaching $32.79. 2,087,756 shares of the company traded hands, compared to its average volume of 5,177,378. On Holding AG has a one year low of $23.41 and a one year high of $37.08. The company has a market cap of $20.65 billion, a P/E ratio of 121.44, a price-to-earnings-growth ratio of 1.13 and a beta of 2.16. The firm has a fifty day simple moving average of $33.17 and a 200-day simple moving average of $29.54.

ON (NYSE:ONON) last posted its earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The business had revenue of $504.69 million during the quarter, compared to the consensus estimate of $515.30 million. ON had a return on equity of 6.85% and a net margin of 4.04%. On average, sell-side analysts forecast that On Holding AG will post 0.65 EPS for the current year.

About ON

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.