PNC Financial Services Group Inc. Acquires 3,025 Shares of On Holding AG (NYSE:ONON)

PNC Financial Services Group Inc. grew its holdings in On Holding AG (NYSE:ONON) by 36.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,245 shares of the company’s stock after buying an additional 3,025 shares during the period. PNC Financial Services Group Inc.’s holdings in ON were worth $494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Jennison Associates LLC boosted its stake in ON by 136.6% during the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after buying an additional 2,798,794 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of ON in the 4th quarter worth about $39,119,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of ON by 355.0% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 910,000 shares of the company’s stock worth $39,967,000 after purchasing an additional 710,000 shares during the period. Raymond James Financial Inc. bought a new position in ON during the 4th quarter valued at about $28,575,000. Finally, Mediolanum International Funds Ltd bought a new position in ON during the 1st quarter valued at about $20,129,000. 36.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ONON shares. UBS Group set a $79.00 price objective on shares of ON and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group set a $40.00 price target on ON and gave the stock an “underperform” rating in a report on Wednesday. Cowen restated a “buy” rating on shares of ON in a report on Wednesday, May 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of ON in a research report on Tuesday. Finally, KeyCorp increased their target price on ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.20.

ON Price Performance

NYSE ONON opened at $48.19 on Thursday. The company has a market cap of $30.34 billion, a PE ratio of 107.09, a P/E/G ratio of 2.84 and a beta of 2.24. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80. The firm’s 50 day moving average price is $51.92 and its 200-day moving average price is $50.87.

ON 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.