On Holding AG $ONON is Towarzystwo Funduszy Inwestycyjnych PZU SA's 7th Largest Position

Key Points

• Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in On Holding AG by 206.1% in Q3 to 383,542 shares, making ON about 3.8% of the fund's holdings and its 7th largest position (≈$16.24M, ~0.06% of ON).
• Institutional investors own 36.39% of ON, with large holders like Wellington Management now holding ~2.997M shares (~$126.9M); On has a market cap of $23.84B, a PE of 52.74, and a MarketBeat consensus rating of Moderate Buy with an average price target of $59.48.

Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in On Holding AG (NYSE:ONON - Free Report) by 206.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 383,542 shares of the company's stock after purchasing an additional 258,262 shares during the period. ON comprises approximately 3.8% of Towarzystwo Funduszy Inwestycyjnych PZU SA's holdings, making the stock its 7th biggest position. Towarzystwo Funduszy Inwestycyjnych PZU SA owned approximately 0.06% of ON worth $16,243,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in ON by 13.8% during the third quarter. Wellington Management Group LLP now owns 2,997,473 shares of the company's stock valued at $126,943,000 after buying an additional 364,091 shares during the last quarter. Night Squared LP purchased a new position in shares of ON during the 3rd quarter worth $6,670,000. NorthRock Partners LLC bought a new stake in shares of ON during the 3rd quarter valued at $220,000. United Financial Planning Group LLC bought a new stake in shares of ON during the 3rd quarter valued at $42,000. Finally, Glenmede Investment Management LP purchased a new stake in shares of ON in the 3rd quarter worth $297,000. 36.39% of the stock is currently owned by institutional investors.

ON Stock Up 0.0%

Shares of ONON opened at $37.97 on Friday. The business's 50 day moving average is $45.33 and its 200 day moving average is $44.18. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27. On Holding AG has a 12-month low of $34.38 and a 12-month high of $61.29. The company has a market capitalization of $23.84 billion, a PE ratio of 52.74, a price-to-earnings-growth ratio of 0.74 and a beta of 2.14.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. KeyCorp reissued an "overweight" rating on shares of ON in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of ON in a research report on Thursday, January 22nd. Stifel Nicolaus set a $58.00 target price on shares of ON in a report on Tuesday, March 3rd. Needham & Company LLC restated a "buy" rating and set a $52.00 target price on shares of ON in a research note on Thursday, February 26th. Finally, Williams Trading downgraded shares of ON from a "buy" rating to a "hold" rating and lowered their price target for the company from $55.00 to $47.00 in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, ON currently has a consensus rating of "Moderate Buy" and an average price target of $59.48.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.

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