On Holding AG $ONON Stake Lifted by DE Burlo Group Inc.

Key Points

• DE Burlo Group Inc. increased its stake by 45.3% in the third quarter, acquiring an additional 57,700 shares to hold 185,200 On Holding AG shares worth about $7.84 million.
• Several large institutions — including Winslow Capital, Sands Capital, Norges Bank, Ameriprise and State Street — have recently built or boosted positions, and institutional investors now own 36.39% of the stock.
• Analysts have an average rating of “Moderate Buy” with an average target price of $59.48, implying potential upside versus the recent open near $41.03 and a 52‑week high of $61.29.

DE Burlo Group Inc. lifted its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 45.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 185,200 shares of the company's stock after acquiring an additional 57,700 shares during the quarter. DE Burlo Group Inc.'s holdings in ON were worth $7,843,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Winslow Capital Management LLC bought a new stake in shares of ON in the 2nd quarter worth approximately $248,113,000. Sands Capital Management LLC acquired a new stake in ON during the second quarter valued at approximately $240,177,000. Norges Bank bought a new stake in ON during the second quarter worth approximately $138,641,000. Ameriprise Financial Inc. grew its position in ON by 4,564.3% in the second quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company's stock worth $119,752,000 after buying an additional 2,242,480 shares during the last quarter. Finally, State Street Corp grew its position in ON by 765.4% in the second quarter. State Street Corp now owns 2,219,015 shares of the company's stock worth $115,500,000 after buying an additional 1,962,586 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of recent research reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of ON in a research report on Thursday, January 22nd. Evercore set a $58.00 target price on ON and gave the stock an "outperform" rating in a report on Tuesday, March 3rd. Truist Financial reduced their target price on ON from $65.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Singular Research upgraded ON to a "strong-buy" rating in a research report on Monday, November 17th. Finally, Piper Sandler reissued an "overweight" rating on shares of ON in a research note on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, ON has an average rating of "Moderate Buy" and an average target price of $59.48.

ON Stock Performance

Shares of NYSE ONON opened at $41.03 on Wednesday. The business's 50-day simple moving average is $45.82 and its 200-day simple moving average is $44.31. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. On Holding AG has a 52 week low of $34.38 and a 52 week high of $61.29. The firm has a market cap of $25.76 billion, a price-to-earnings ratio of 56.98, a P/E/G ratio of 0.79 and a beta of 2.14.

About ON

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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