Capricorn Fund Managers Ltd Acquires New Shares in On Holding AG $ONON

Key Points

• Capricorn Fund Managers Ltd has acquired 54,000 shares of On Holding AG, valued at approximately $2,811,000, indicating growing institutional interest in the company.
• Wall Street analysts have a largely positive outlook for ONON, with an average price target of $64.20 and ratings ranging from "Strong Buy" to "Sell."
• On Holding AG's shares opened at $42.11 and the company has a market capitalization of $26.52 billion, with a 12-month price range between $34.59 and $64.05.

Capricorn Fund Managers Ltd acquired a new stake in shares of On Holding AG (NYSE:ONON - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 54,000 shares of the company's stock, valued at approximately $2,811,000.

Several other institutional investors also recently modified their holdings of ONON. CWM LLC lifted its holdings in ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company's stock valued at $55,000 after acquiring an additional 229 shares during the period. Sterling Investment Counsel LLC lifted its holdings in ON by 5.5% in 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. TCTC Holdings LLC lifted its holdings in ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after acquiring an additional 315 shares during the period. Merit Financial Group LLC lifted its holdings in ON by 2.9% in the first quarter. Merit Financial Group LLC now owns 12,275 shares of the company's stock valued at $539,000 after acquiring an additional 348 shares during the period. Finally, Wesbanco Bank Inc. lifted its holdings in ON by 0.6% in the second quarter. Wesbanco Bank Inc. now owns 69,303 shares of the company's stock valued at $3,607,000 after acquiring an additional 421 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ONON has been the topic of several recent research reports. Morgan Stanley raised their price objective on ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $65.00 price objective on shares of ON in a research note on Thursday, August 7th. Jefferies Financial Group set a $40.00 price objective on ON and gave the stock an "underperform" rating in a research note on Wednesday, August 13th. UBS Group raised their price objective on ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of ON in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.20.

ON Stock Down 0.6%

Shares of ONON opened at $42.11 on Friday. The business's 50 day moving average is $45.33 and its 200 day moving average is $48.83. The company has a market capitalization of $26.52 billion, a PE ratio of 93.58, a price-to-earnings-growth ratio of 5.47 and a beta of 2.19. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05. 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 Company 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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