Artisan Partners Limited Partnership Trims Stake in On Holding AG $ONON

Artisan Partners Limited Partnership decreased its holdings in On Holding AG (NYSE:ONON) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,378 shares of the company’s stock after selling 18,012 shares during the period. Artisan Partners Limited Partnership owned about 0.06% of ON worth $19,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in shares of ON by 106.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock valued at $3,570,000 after acquiring an additional 35,391 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of ON by 36.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company’s stock worth $494,000 after purchasing an additional 3,025 shares during the last quarter. Red Spruce Capital LLC lifted its position in shares of ON by 64.8% in the second quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock worth $1,851,000 after buying an additional 13,980 shares during the last quarter. Citigroup Inc. grew its holdings in ON by 73.1% during the first quarter. Citigroup Inc. now owns 213,127 shares of the company’s stock valued at $9,361,000 after purchasing an additional 89,982 shares during the last quarter. Finally, Bessemer Group Inc. bought a new position in ON in the 2nd quarter worth $43,344,000. 36.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ONON has been the topic of a number of recent research reports. Jefferies Financial Group reissued an “underperform” rating and set a $31.00 target price on shares of ON in a research report on Wednesday, November 12th. UBS Group increased their target price on ON from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Citigroup cut ON from a “buy” rating to a “mixed” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group raised their price objective on shares of ON from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Finally, Piper Sandler cut their price target on shares of ON from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and an average target price of $61.14.

ON Trading Down 0.5%

Shares of NYSE:ONON opened at $41.20 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. The stock has a market cap of $25.94 billion, a PE ratio of 53.51, a P/E/G ratio of 2.42 and a beta of 2.18. The business has a 50 day moving average of $41.46 and a 200-day moving average of $47.96. On Holding AG has a 12-month low of $34.38 and a 12-month high of $64.05.

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.