DE Burlo Group Inc. Trims Stock Position in On Holding AG (NYSE:ONON)

Key Points

• DE Burlo Group Inc. decreased its stake in On Holding AG by 38.7%, selling 126,000 shares during the 1st quarter, leaving them with 199,400 shares worth approximately $8.76 million.
• Wall Street analysts have a generally positive outlook on On Holding AG, with a consensus target price of $64.00 and several firms raising their price targets, including KeyCorp which increased theirs from $60.00 to $68.00.
• On Holding AG's stock opened at $50.77, showing a 1.6% increase, and it has significant market metrics including a market cap of $31.97 billion and a P/E ratio of 72.52.

DE Burlo Group Inc. cut its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 38.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 199,400 shares of the company's stock after selling 126,000 shares during the period. ON comprises approximately 1.3% of DE Burlo Group Inc.'s holdings, making the stock its 26th largest position. DE Burlo Group Inc.'s holdings in ON were worth $8,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ONON. Kestra Private Wealth Services LLC boosted its holdings in ON by 151.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company's stock worth $829,000 after buying an additional 11,362 shares during the period. BNP Paribas Financial Markets bought a new position in shares of ON during the 4th quarter valued at about $39,119,000. APEIRON CAPITAL Ltd boosted its holdings in shares of ON by 35.9% during the 1st quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company's stock valued at $43,882,000 after purchasing an additional 264,000 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of ON by 9.5% during the 1st quarter. OneDigital Investment Advisors LLC now owns 6,282 shares of the company's stock valued at $276,000 after purchasing an additional 544 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of ON during the 4th quarter valued at about $28,575,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Performance

Shares of NYSE:ONON traded down $1.06 on Wednesday, hitting $50.69. 2,170,520 shares of the company were exchanged, compared to its average volume of 5,062,582. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The stock's 50 day moving average price is $54.46 and its 200 day moving average price is $51.60. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $31.92 billion, a P/E ratio of 72.43, a price-to-earnings-growth ratio of 2.86 and a beta of 2.25.

Analyst Upgrades and Downgrades

Several research firms have commented on ONON. UBS Group set a $75.00 price objective on shares of ON in a report on Wednesday, May 14th. Telsey Advisory Group reissued an "outperform" rating and issued a $65.00 price objective on shares of ON in a research report on Tuesday, May 13th. Barclays set a $68.00 target price on shares of ON in a research report on Wednesday, May 14th. Stifel Nicolaus raised their target price on shares of ON from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Evercore ISI increased their price objective on shares of ON from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ON presently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

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.