US Bancorp DE Sells 8,326 Shares of On Holding AG $ONON

US Bancorp DE lowered its holdings in On Holding AG (NYSE:ONON) by 15.8% in the second quarter, HoldingsChannel.com reports. The firm owned 44,338 shares of the company’s stock after selling 8,326 shares during the quarter. US Bancorp DE’s holdings in ON were worth $2,308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ONON. Jennison Associates LLC raised its position in shares of ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock valued at $212,943,000 after buying an additional 2,798,794 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of ON by 13.9% in the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after purchasing an additional 2,416,534 shares during the last quarter. Nuveen LLC bought a new stake in shares of ON in the 1st quarter valued at $102,850,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of ON in the 2nd quarter valued at $41,208,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in ON by 355.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 910,000 shares of the company’s stock worth $39,967,000 after acquiring an additional 710,000 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Trading Down 1.5%

ONON stock opened at $41.54 on Thursday. The company has a market capitalization of $26.16 billion, a PE ratio of 92.32, a price-to-earnings-growth ratio of 5.24 and a beta of 2.19. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The company’s 50 day moving average price is $44.32 and its two-hundred day moving average price is $48.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ONON. Jefferies Financial Group set a $40.00 target price on shares of ON and gave the stock an “underperform” rating in a research note on Wednesday, August 13th. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Raymond James Financial downgraded shares of ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 price objective for the company. in a report on Tuesday, July 22nd. TD Cowen cut their target price on shares of ON from $63.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $62.00 price objective on shares of ON in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.65.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.