Baird Financial Group Inc. Has $1.68 Million Holdings in On Holding AG $ONON

Key Points

• Baird Financial Group Inc. reduced its stake in On Holding AG by 61.1%, now holding 38,131 shares worth approximately $1.68 million as of their recent SEC filing.
• Several institutional investors have also adjusted their positions in On Holding, with some acquiring new stakes and others increasing their existing investments, indicating growing interest in the company.
• Analysts have varying ratings for ONON shares, with a consensus target price of $64.20 and the majority holding a "Buy" rating, reflecting positive sentiment about the company's future performance.

Baird Financial Group Inc. lowered its stake in On Holding AG (NYSE:ONON - Free Report) by 61.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,131 shares of the company's stock after selling 59,876 shares during the period. Baird Financial Group Inc.'s holdings in ON were worth $1,675,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Montag A & Associates Inc. acquired a new stake in shares of ON in the first quarter worth about $26,000. TCTC Holdings LLC lifted its position in shares of ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after buying an additional 315 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of ON in the fourth quarter worth about $32,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of ON in the first quarter worth about $32,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of ON by 3,392.6% in the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock worth $42,000 after buying an additional 916 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Trading Down 1.1%

Shares of ONON opened at $45.52 on Monday. On Holding AG has a 12-month low of $34.59 and a 12-month 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 firm has a market capitalization of $28.66 billion, a price-to-earnings ratio of 101.16, a P/E/G ratio of 5.88 and a beta of 2.23. The stock's 50-day moving average price is $48.99 and its 200 day moving average price is $49.43.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ONON shares. Truist Financial boosted their price target on ON from $61.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Cowen reissued a "buy" rating on shares of ON in a research report on Wednesday, May 14th. Stifel Nicolaus boosted their price objective on ON from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Jefferies Financial Group set a $40.00 price objective on ON and gave the stock an "underperform" rating in a research report on Wednesday, August 13th. Finally, Robert W. Baird boosted their price objective on ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $64.20.

About ON

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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