On Holding AG $ONON Stake Boosted by Baird Financial Group Inc.

Baird Financial Group Inc. raised its position in shares of On Holding AG (NYSE:ONON) by 105.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,370 shares of the company’s stock after buying an additional 40,239 shares during the quarter. Baird Financial Group Inc.’s holdings in ON were worth $4,079,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sands Capital Management LLC acquired a new stake in shares of ON during the second quarter valued at approximately $240,177,000. Norges Bank purchased a new position in ON during the 2nd quarter worth approximately $138,641,000. Alliancebernstein L.P. raised its stake in ON by 13.9% during the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after purchasing an additional 2,416,534 shares during the period. Nuveen LLC purchased a new stake in shares of ON in the first quarter valued at $102,850,000. Finally, Geode Capital Management LLC purchased a new stake in shares of ON in the second quarter valued at $70,152,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Piper Sandler reissued an “overweight” rating on shares of ON in a research report on Friday, December 5th. Citigroup cut ON from a “buy” rating to a “mixed” rating in a research note on Tuesday, October 28th. Truist Financial reduced their price target on shares of ON from $69.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Jefferies Financial Group restated an “underperform” rating and set a $31.00 price target on shares of ON in a report on Wednesday, November 12th. Finally, The Goldman Sachs Group upped 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. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, ON has a consensus rating of “Moderate Buy” and an average target price of $61.27.

ON Price Performance

Shares of ON stock opened at $48.70 on Thursday. On Holding AG has a fifty-two week low of $34.38 and a fifty-two week high of $64.05. The company has a market cap of $30.58 billion, a PE ratio of 63.25, a price-to-earnings-growth ratio of 2.80 and a beta of 2.16. The firm has a fifty day moving average price of $41.81 and a two-hundred day moving average price of $46.97. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05.

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.