Principal Financial Group Inc. Reduces Stake in On Holding AG $ONON

Principal Financial Group Inc. cut its position in shares of On Holding AG (NYSE:ONON) by 96.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,548 shares of the company’s stock after selling 176,548 shares during the quarter. Principal Financial Group Inc.’s holdings in ON were worth $277,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of ONON. Carl P. Sherr & Co. LLC raised its stake in shares of ON by 36.0% during the 3rd quarter. Carl P. Sherr & Co. LLC now owns 15,230 shares of the company’s stock worth $645,000 after buying an additional 4,030 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in ON during the 3rd quarter valued at about $265,000. New York State Common Retirement Fund raised its position in ON by 3.9% during the third quarter. New York State Common Retirement Fund now owns 296,015 shares of the company’s stock worth $12,536,000 after acquiring an additional 11,115 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of ON by 12.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 7,298 shares of the company’s stock valued at $309,000 after purchasing an additional 815 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in shares of ON in the third quarter valued at approximately $156,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Performance

NYSE ONON opened at $49.38 on Friday. The business’s 50-day moving average price is $46.53 and its 200 day moving average price is $44.45. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. On Holding AG has a twelve month low of $34.38 and a twelve month high of $61.29. The company has a market capitalization of $31.01 billion, a PE ratio of 64.13, a price-to-earnings-growth ratio of 1.44 and a beta of 2.15.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of recent research reports. Telsey Advisory Group reissued an “outperform” rating and set a $65.00 price objective on shares of ON in a research note on Wednesday, January 28th. Bank of America raised their price target on ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Truist Financial cut their price target on ON from $69.00 to $60.00 and set a “buy” rating for the company in a report on Monday, November 10th. KeyCorp reduced their price objective on ON from $68.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Finally, Piper Sandler reiterated an “overweight” rating on shares of ON in a research report on Friday, December 5th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.