Fidelity Management & Research Co recently announced the acquisition of new stake in On Holding AG (NYSE:ONON). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.22% to 28.14 million shares with purchase of 62289.0 shares. This fresh investment now brings its stake to 9.98% valued currently at $816.33 million. In addition, Jennison Associates LLC raised its holdings by 0.55 million to 7.89 million shares. And American Century Investment Manag has lifted its position by 109.27% or 3.43 million shares – to 6.57 million shares.
Currently, there are 281.98M common shares owned by the public and among those 185.84M shares have been available to trade.
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The top 3 mutual fund holders in On Holding AG are Fidelity Contrafund, Fidelity Growth Company Fund, and American Century Heritage Fund. Fidelity Contrafund owns 8.22 million shares of the company’s stock, all valued at over $238.33 million. Fidelity Growth Company Fund bought 13700.0 shares to see its total holdings expand to 4.89 million shares valued at over $141.85 million and representing 1.73% of the shares outstanding. American Century Heritage Fund bought 1.94 million shares to bring its total holdings to over 3.8 million shares at a value of $110.22 million. American Century Heritage Fund now owns shares totaling to 1.35% of the shares outstanding.
However, the script later moved the day high at 31.96, up 2.59%. The company’s stock has a 5-day price change of 11.33% and 5.56% over the past three months. ONON shares are trading 82.69% year to date (YTD), with the 12-month market performance up to 90.12% higher. It has a 12-month low price of $15.91 and touched a high of $37.08 over the same period. ONON has an average intraday trading volume of 4.79 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.02%, 15.15%, and 6.78% respectively.
Institutional ownership of On Holding AG (NYSE: ONON) shares accounts for 40.70% of the company’s 281.98M shares outstanding. Mutual fund holders own 20.73%, while other institutional holders and individual stakeholders account for 25.25% and — respectively.
It has a market capitalization of $9.97B and a beta (3y monthly) value of 2.14. The stock’s trailing 12-month PE ratio is 112.45, while the earnings-per-share (ttm) stands at $0.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.17% over the week and 3.79% over the month.
Analysts forecast that On Holding AG (ONON) will achieve an EPS of $Tenon Medical, Inc. for the current quarter, $1.37 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $ProShares Online Retail ETF while analysts give the company a high EPS estimate of $ONOF. Comparatively, EPS for the current quarter was $Global X Adaptive U.S. Risk Man a year ago. Earnings per share for the fiscal year are expected to increase by 68.42%, and 44.87% over the next financial year.
Looking at the support for the ONON, a number of firms have released research notes about the stock. Truist stated their Hold rating for the stock in a research note on November 17, 2023, with the firm’s price target at $29.
