Citigroup Inc. Boosts Stock Position in On Holding AG $ONON

Citigroup Inc. increased its stake in On Holding AG (NYSE:ONON) by 3,643.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 607,720 shares of the company’s stock after purchasing an additional 591,487 shares during the quarter. Citigroup Inc. owned about 0.10% of ON worth $25,737,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Winslow Capital Management LLC bought a new position in shares of ON in the second quarter worth $248,113,000. Sands Capital Management LLC bought a new position in ON in the 2nd quarter worth about $240,177,000. Norges Bank purchased a new stake in shares of ON in the 2nd quarter valued at about $138,641,000. Ameriprise Financial Inc. boosted its position in shares of ON by 4,564.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after acquiring an additional 2,242,480 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of ON by 765.4% during the second quarter. State Street Corp now owns 2,219,015 shares of the company’s stock worth $115,500,000 after purchasing an additional 1,962,586 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

Shares of ONON stock opened at $46.65 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The firm has a market cap of $29.29 billion, a P/E ratio of 60.58, a P/E/G ratio of 1.40 and a beta of 2.15. The business’s 50 day moving average price is $46.47 and its 200-day moving average price is $44.45. On Holding AG has a fifty-two week low of $34.38 and a fifty-two week high of $61.29.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ONON shares. TD Cowen raised their price objective on shares of ON from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Barclays lowered their price target on ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $65.00 price objective on shares of ON in a report on Tuesday. Evercore decreased their price objective on ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. boosted their target price on ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.86.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.