Baird Financial Group Inc. Acquires 40,239 Shares of On Holding AG $ONON

Baird Financial Group Inc. grew its holdings in On Holding AG (NYSE:ONON) by 105.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,370 shares of the company’s stock after buying an additional 40,239 shares during the quarter. Baird Financial Group Inc.’s holdings in ON were worth $4,079,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Invesco Ltd. raised its stake in ON by 305.5% during the second quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock worth $8,186,000 after acquiring an additional 118,498 shares in the last quarter. Sands Capital Management LLC bought a new position in shares of ON in the second quarter valued at approximately $240,177,000. Groupe la Francaise raised its stake in shares of ON by 7.5% in the second quarter. Groupe la Francaise now owns 267,388 shares of the company’s stock valued at $13,856,000 after acquiring an additional 18,551 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new position in shares of ON in the 2nd quarter worth approximately $241,000. Finally, Lido Advisors LLC grew its position in ON by 1.2% during the 2nd quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock worth $1,236,000 after acquiring an additional 285 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Trading Up 2.9%

Shares of NYSE ONON opened at $48.70 on Thursday. 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 capitalization of $30.58 billion, a P/E ratio of 63.25, a P/E/G ratio of 2.80 and a beta of 2.16. 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 company’s 50 day simple moving average is $41.81 and its 200 day simple moving average is $46.97.

Analysts Set New Price Targets

ONON has been the subject of several research analyst reports. Zacks Research upgraded ON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $31.00 price target on shares of ON in a report on Wednesday, November 12th. JPMorgan Chase & Co. increased their price objective on shares of ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Needham & Company LLC lowered their price objective on shares of ON from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $65.00 target price on shares of ON in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.27.

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.