1832 Asset Management L.P. Has $79.73 Million Stock Holdings in On Holding AG $ONON

1832 Asset Management L.P. decreased its holdings in shares of On Holding AG (NYSE:ONON) by 34.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,531,700 shares of the company’s stock after selling 813,000 shares during the period. 1832 Asset Management L.P.’s holdings in ON were worth $79,725,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ONON. Ramirez Asset Management Inc. raised its holdings in shares of ON by 20.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock worth $62,000 after buying an additional 200 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in ON by 1.0% during the second quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock worth $1,298,000 after acquiring an additional 243 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of ON by 1.2% during the second quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock valued at $1,236,000 after acquiring an additional 285 shares during the period. Sterling Investment Counsel LLC lifted its holdings in shares of ON by 5.5% during the second quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock valued at $299,000 after acquiring an additional 300 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in shares of ON by 11.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,859 shares of the company’s stock valued at $201,000 after purchasing an additional 405 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

ON Stock Performance

Shares of ON stock opened at $47.04 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. The firm has a 50 day simple moving average of $41.32 and a 200 day simple moving average of $47.37. On Holding AG has a fifty-two week low of $34.38 and a fifty-two week high of $64.05. The firm has a market cap of $29.54 billion, a P/E ratio of 61.09, a P/E/G ratio of 2.64 and a beta of 2.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup cut shares of ON from a “buy” rating to a “mixed” rating in a research report on Tuesday, October 28th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 price objective on shares of ON in a report on Thursday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of ON from $71.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Barclays reduced their target price on ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Finally, UBS Group raised their price target on ON from $79.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.38.

ON 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.