Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in On Holding AG (NYSE:ONON)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of On Holding AG (NYSE:ONON - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,700 shares of the company's stock after buying an additional 8,600 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in ON were worth $5,038,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd raised its holdings in shares of ON by 123.7% in the 1st quarter. Y.D. More Investments Ltd now owns 50,700 shares of the company's stock worth $2,227,000 after purchasing an additional 28,040 shares during the period. Headlands Technologies LLC raised its holdings in shares of ON by 693.3% in the 1st quarter. Headlands Technologies LLC now owns 6,196 shares of the company's stock worth $272,000 after purchasing an additional 5,415 shares during the period. Charles Schwab Investment Management Inc. bought a new stake in shares of ON in the 1st quarter worth approximately $233,000. Malaga Cove Capital LLC raised its holdings in shares of ON by 353.3% in the 1st quarter. Malaga Cove Capital LLC now owns 24,009 shares of the company's stock worth $1,054,000 after purchasing an additional 18,713 shares during the period. Finally, R Squared Ltd raised its holdings in shares of ON by 63.7% in the 1st quarter. R Squared Ltd now owns 4,600 shares of the company's stock worth $202,000 after purchasing an additional 1,790 shares during the period. Institutional investors own 36.39% of the company's stock.

ON Stock Performance

ONON stock traded up $1.14 on Friday, hitting $45.35. The company had a trading volume of 9,607,226 shares, compared to its average volume of 5,490,208. 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 2.18 and a debt-to-equity ratio of 0.31. The stock's 50-day simple moving average is $51.67 and its 200 day simple moving average is $50.77. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 100.78, a P/E/G ratio of 2.75 and a beta of 2.24.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ONON shares. Jefferies Financial Group set a $40.00 price target on shares of ON and gave the stock an "underperform" rating in a report on Wednesday. Piper Sandler restated an "overweight" rating on shares of ON in a research report on Tuesday, May 13th. Telsey Advisory Group restated an "outperform" rating and set a $65.00 price target on shares of ON in a research report on Thursday, August 7th. Truist Financial upped their target price on shares of ON from $61.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Cowen reiterated a "buy" rating on shares of ON in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.