On Holding AG $ONON Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its stake in On Holding AG (NYSE:ONON) by 3.9% during the third quarter, HoldingsChannel reports. The firm owned 296,015 shares of the company’s stock after acquiring an additional 11,115 shares during the period. New York State Common Retirement Fund’s holdings in ON were worth $12,536,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Winslow Capital Management LLC acquired a new position in ON in the 2nd quarter worth approximately $248,113,000. Sands Capital Management LLC acquired a new stake in shares of ON in the second quarter worth $240,177,000. Bamco Inc. NY grew its holdings in shares of ON by 3.3% during the second quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock valued at $215,486,000 after buying an additional 132,756 shares in the last quarter. American Century Companies Inc. raised its position in ON by 29.4% during the second quarter. American Century Companies Inc. now owns 3,692,568 shares of the company’s stock valued at $192,198,000 after buying an additional 839,754 shares during the period. Finally, Norges Bank purchased a new stake in ON in the 2nd quarter worth about $138,641,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Performance

ONON opened at $45.92 on Tuesday. The stock has a 50-day moving average of $46.73 and a 200-day moving average of $44.87. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The company has a market cap of $28.83 billion, a PE ratio of 59.63, a price-to-earnings-growth ratio of 1.36 and a beta of 2.15.

Analyst Ratings Changes

Several research firms have weighed in on ONON. Jefferies Financial Group reaffirmed an “underperform” rating and set a $31.00 target price on shares of ON in a research note on Wednesday, November 12th. Bank of America lifted their target price on shares of ON from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Barclays dropped their price target on shares of ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. KeyCorp reduced their price objective on ON from $68.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus set a $60.00 target price on ON in a research note on Wednesday, January 28th. Three investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, ON has a consensus rating of “Moderate Buy” and an average 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.