New York State Common Retirement Fund Trims Stake in On Holding AG (NYSE:ONON)

New York State Common Retirement Fund lessened its position in shares of On Holding AG (NYSE:ONON) by 40.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 132,073 shares of the company’s stock after selling 89,747 shares during the quarter. New York State Common Retirement Fund’s holdings in ON were worth $5,801,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ONON. FMR LLC boosted its stake in shares of ON by 1.6% during the fourth quarter. FMR LLC now owns 28,875,965 shares of the company’s stock worth $1,581,537,000 after buying an additional 462,738 shares during the period. Alliancebernstein L.P. raised its stake in ON by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock valued at $951,808,000 after acquiring an additional 471,805 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in ON by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company’s stock worth $184,109,000 after acquiring an additional 18,752 shares during the period. Norges Bank purchased a new position in shares of ON in the 4th quarter valued at approximately $164,574,000. Finally, Voloridge Investment Management LLC increased its holdings in shares of ON by 10.7% in the fourth quarter. Voloridge Investment Management LLC now owns 2,026,890 shares of the company’s stock valued at $111,013,000 after purchasing an additional 196,270 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ONON. UBS Group set a $75.00 price objective on shares of ON in a research report on Wednesday, May 14th. Piper Sandler reaffirmed an “overweight” rating on shares of ON in a report on Tuesday, May 13th. Raymond James Financial reiterated a “strong-buy” rating on shares of ON in a research note on Wednesday, May 14th. Needham & Company LLC raised their price objective on shares of ON from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Finally, KeyCorp boosted their target price on ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $63.85.

ON Stock Performance

Shares of ONON opened at $53.14 on Monday. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05. The stock has a market cap of $33.46 billion, a P/E ratio of 75.91, a PEG ratio of 2.98 and a beta of 2.25. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $55.40 and a two-hundred day moving average of $51.79.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.