Bessemer Group Inc. Boosts Stake in On Holding AG $ONON

Bessemer Group Inc. grew its position in shares of On Holding AG (NYSE:ONON) by 45.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,211,586 shares of the company’s stock after acquiring an additional 378,859 shares during the quarter. Bessemer Group Inc. owned about 0.19% of ON worth $51,311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. raised its holdings in ON by 123.6% in the third quarter. SBI Securities Co. Ltd. now owns 7,330 shares of the company’s stock valued at $310,000 after buying an additional 4,052 shares during the period. Atala Financial Inc increased its position in shares of ON by 7.0% in the third quarter. Atala Financial Inc now owns 38,118 shares of the company’s stock worth $1,614,000 after acquiring an additional 2,501 shares in the last quarter. Unison Asset Management LLC purchased a new position in shares of ON in the 3rd quarter valued at $658,000. Allianz Asset Management GmbH lifted its holdings in shares of ON by 1.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 64,467 shares of the company’s stock valued at $2,730,000 after acquiring an additional 671 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC boosted its position in ON by 2.4% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 693,779 shares of the company’s stock worth $29,382,000 after purchasing an additional 16,345 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on ONON. Guggenheim raised ON to a “strong-buy” rating in a research report on Wednesday, December 10th. Williams Trading downgraded ON from a “buy” rating to a “hold” rating and dropped their target price for the company from $55.00 to $47.00 in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a report on Thursday, January 22nd. Piper Sandler reiterated an “overweight” rating on shares of ON in a research note on Friday, December 5th. Finally, Barclays decreased their target price on shares of ON from $69.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.86.

ON Stock Performance

ON stock opened at $42.90 on Friday. On Holding AG has a 52 week low of $34.38 and a 52 week high of $61.29. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. The stock has a market cap of $26.94 billion, a P/E ratio of 55.71, a price-to-earnings-growth ratio of 1.32 and a beta of 2.15. The stock has a 50 day moving average of $46.78 and a 200-day moving average of $44.78.

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.