Aberdeen Group plc Grows Stock Holdings in On Holding AG $ONON

Aberdeen Group plc lifted its stake in On Holding AG (NYSE:ONON) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 768,053 shares of the company’s stock after purchasing an additional 11,178 shares during the quarter. Aberdeen Group plc owned about 0.12% of ON worth $33,479,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONON. Winslow Capital Management LLC purchased a new stake 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. Bamco Inc. NY grew its position in ON by 3.3% during the 2nd quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock valued at $215,486,000 after purchasing an additional 132,756 shares during the last quarter. American Century Companies Inc. grew its position in ON by 29.4% during the 2nd quarter. American Century Companies Inc. now owns 3,692,568 shares of the company’s stock valued at $192,198,000 after purchasing an additional 839,754 shares during the last quarter. Finally, Norges Bank bought a new stake in ON during the 2nd quarter valued at about $138,641,000. Institutional investors own 36.39% of the company’s stock.

ON Trading Up 2.3%

ON stock opened at $45.27 on Tuesday. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29. The company has a market cap of $28.43 billion, a P/E ratio of 58.79, a P/E/G ratio of 1.36 and a beta of 2.15. 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 business has a 50-day simple moving average of $46.59 and a two-hundred day simple moving average of $44.39.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of ON in a research note on Wednesday, January 28th. JPMorgan Chase & Co. upped their price objective on ON from $71.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Raymond James Financial reduced their target price on ON from $66.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 21st. Williams Trading cut ON from a “buy” rating to a “hold” rating and decreased their price target for the stock from $55.00 to $47.00 in a research note on Thursday, January 8th. Finally, Citigroup cut ON from a “buy” rating to a “mixed” rating in a research report on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.