Baird Financial Group Inc. Sells 59,876 Shares of 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. lessened its stake in On Holding AG (NYSE:ONON - Free Report) by 61.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ONON. Bison Wealth LLC grew its position in ON by 35.7% in the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company's stock worth $509,000 after purchasing an additional 2,442 shares during the period. Cetera Investment Advisers grew its position in ON by 24.1% in the 4th quarter. Cetera Investment Advisers now owns 47,186 shares of the company's stock worth $2,584,000 after purchasing an additional 9,176 shares during the period. Cresset Asset Management LLC boosted its stake in shares of ON by 29.5% during the 4th quarter. Cresset Asset Management LLC now owns 8,702 shares of the company's stock worth $477,000 after acquiring an additional 1,983 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of ON by 20.0% during the 4th quarter. Focus Partners Wealth now owns 27,907 shares of the company's stock worth $1,528,000 after acquiring an additional 4,657 shares during the last quarter. Finally, J. Goldman & Co LP purchased a new position in shares of ON during the 4th quarter worth $6,013,000. Institutional investors own 36.39% of the company's stock.

ON Price Performance

Shares of ONON traded down $0.31 during trading hours on Friday, reaching $42.99. 3,856,532 shares of the stock traded hands, compared to its average volume of 5,041,187. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The company's 50-day moving average price is $48.03 and its two-hundred day moving average price is $49.25. The company has a market cap of $27.07 billion, a P/E ratio of 95.54, a price-to-earnings-growth ratio of 5.59 and a beta of 2.23.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ONON. UBS Group lifted their price target on shares of ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Needham & Company LLC reiterated a "buy" rating and set a $62.00 price target on shares of ON in a research note on Tuesday, August 12th. Raymond James Financial cut shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price target on the stock. in a research note on Tuesday, July 22nd. Jefferies Financial Group set a $40.00 price target on shares of ON and gave the stock an "underperform" rating in a research note on Wednesday, August 13th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $65.00 price target on shares of ON in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.