On Holding AG $ONON is Towarzystwo Funduszy Inwestycyjnych PZU SA’s 7th Largest Position

Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in On Holding AG (NYSE:ONON) by 206.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 383,542 shares of the company’s stock after purchasing an additional 258,262 shares during the quarter. ON comprises approximately 3.8% of Towarzystwo Funduszy Inwestycyjnych PZU SA’s holdings, making the stock its 7th largest holding. Towarzystwo Funduszy Inwestycyjnych PZU SA’s holdings in ON were worth $16,243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ONON. Norges Bank bought a new stake in shares of ON in the second quarter worth about $138,641,000. Great Point Wealth Advisors LLC bought a new position in ON during the third quarter valued at approximately $1,607,000. Geode Capital Management LLC purchased a new position in ON during the 2nd quarter valued at approximately $70,152,000. Lecap Asset Management Ltd. purchased a new position in ON during the 3rd quarter valued at approximately $1,473,000. Finally, Winslow Capital Management LLC bought a new stake in ON in the 2nd quarter worth approximately $248,113,000. Institutional investors own 36.39% of the company’s stock.

ON Price Performance

NYSE:ONON opened at $37.97 on Friday. The firm has a market capitalization of $23.84 billion, a price-to-earnings ratio of 52.74, a PEG ratio of 0.74 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. The business has a 50 day simple moving average of $45.33 and a 200-day simple moving average of $44.18. On Holding AG has a 1 year low of $34.38 and a 1 year high of $61.29.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ONON. Guggenheim decreased their price objective on ON from $59.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. BTIG Research restated a “buy” rating and issued a $70.00 price target on shares of ON in a research report on Tuesday, March 3rd. Piper Sandler reaffirmed an “overweight” rating on shares of ON in a research note on Friday, December 5th. Truist Financial lowered their price objective on shares of ON from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Evercore set a $58.00 price objective on shares of ON and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus target price of $59.48.

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.