New York State Common Retirement Fund Has $5.80 Million Stock Position in On Holding AG (NYSE:ONON)

New York State Common Retirement Fund lowered its stake in On Holding AG (NYSE:ONON - Free Report) by 40.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,073 shares of the company's stock after selling 89,747 shares during the period. New York State Common Retirement Fund's holdings in ON were worth $5,801,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. FMR LLC increased its holdings in ON by 1.6% in the 4th quarter. FMR LLC now owns 28,875,965 shares of the company's stock worth $1,581,537,000 after buying an additional 462,738 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of ON by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock valued at $951,808,000 after purchasing an additional 471,805 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of ON by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company's stock valued at $184,109,000 after purchasing an additional 18,752 shares during the period. Norges Bank bought a new stake in shares of ON during the 4th quarter valued at about $164,574,000. Finally, Voloridge Investment Management LLC grew its stake in shares of ON by 10.7% during the 4th quarter. Voloridge Investment Management LLC now owns 2,026,890 shares of the company's stock valued at $111,013,000 after purchasing an additional 196,270 shares during the period. Institutional investors own 36.39% of the company's stock.

ON Price Performance

Shares of NYSE:ONON traded down $2.87 on Tuesday, reaching $50.35. 7,059,967 shares of the company traded hands, compared to its average volume of 4,622,861. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The company's 50 day moving average is $55.40 and its 200-day moving average is $51.79. The stock has a market capitalization of $31.70 billion, a PE ratio of 71.92, a P/E/G ratio of 2.98 and a beta of 2.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ONON shares. Evercore ISI upped their price objective on ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Raymond James Financial lowered ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price on the stock. in a research note on Tuesday. Robert W. Baird increased their price target on ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Piper Sandler reaffirmed an "overweight" rating on shares of ON in a research report on Tuesday, May 13th. Finally, Stifel Nicolaus increased their price target on ON from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

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.