756,875 Shares in On Holding AG $ONON Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc acquired 756,875 shares of On Holding AG for approximately $39,395,000, representing about 0.12% of the company's total shares by the end of the second quarter.
• Multiple institutional investors, including Blue Trust Inc. and Ramirez Asset Management, have significantly increased their stakes in On Holding AG during the same period.
• Research analysts have varied views on ONON stock, with UBS Group raising the price target to $79.00 while others, like Jefferies Financial Group, have set a lower target of $40.00.

Aberdeen Group plc purchased a new stake in shares of On Holding AG (NYSE:ONON - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 756,875 shares of the company's stock, valued at approximately $39,395,000. Aberdeen Group plc owned about 0.12% of ON at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Blue Trust Inc. grew its position in ON by 1,527.2% during the second quarter. Blue Trust Inc. now owns 4,361 shares of the company's stock valued at $227,000 after purchasing an additional 4,093 shares in the last quarter. Ramirez Asset Management Inc. boosted its holdings in ON by 20.0% during the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company's stock valued at $62,000 after acquiring an additional 200 shares during the period. IFP Advisors Inc grew its stake in shares of ON by 6.6% in the second quarter. IFP Advisors Inc now owns 21,659 shares of the company's stock worth $1,127,000 after acquiring an additional 1,342 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of ON in the second quarter valued at $233,000. Finally, Capricorn Fund Managers Ltd bought a new position in shares of ON during the 2nd quarter worth approximately $2,811,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ON stock opened at $41.93 on Monday. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $44.61 and a 200-day moving average price of $48.72. The company has a market cap of $26.40 billion, a PE ratio of 93.18, a price-to-earnings-growth ratio of 5.20 and a beta of 2.19.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ONON shares. UBS Group increased their price target on shares of ON from $75.00 to $79.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Raymond James Financial cut shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price objective for the company. in a research report on Tuesday, July 22nd. Telsey Advisory Group reissued an "outperform" rating and set a $65.00 price target on shares of ON in a research note on Thursday, August 7th. Morgan Stanley upped their price objective on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group set a $40.00 target price on shares of ON and gave the stock an "underperform" rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.20.

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.

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