Truist Financial Corp Has $1.41 Million Position in On Holding AG $ONON

Key Points

• Truist Financial Corp increased its stake in On Holding AG by 206.1% during Q2, now holding 27,049 shares valued at approximately $1.41 million.
• Institutional investors collectively own 36.39% of On Holding AG's stock, with multiple other funds also increasing their stakes significantly in recent quarters.
• Wall Street analysts have mixed ratings for On Holding AG, with a consensus price target of $64.20, indicating a potential upside for the stock.

Truist Financial Corp boosted its position in On Holding AG (NYSE:ONON - Free Report) by 206.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,049 shares of the company's stock after acquiring an additional 18,211 shares during the quarter. Truist Financial Corp's holdings in ON were worth $1,408,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bison Wealth LLC boosted its holdings in shares of ON by 35.7% in the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company's stock valued at $509,000 after purchasing an additional 2,442 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of ON by 15.6% during the 1st quarter. Park Avenue Securities LLC now owns 18,505 shares of the company's stock worth $813,000 after buying an additional 2,499 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of ON during the 1st quarter worth $250,000. Wealth Enhancement Advisory Services LLC raised its stake in ON by 241.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 63,930 shares of the company's stock worth $2,808,000 after acquiring an additional 45,223 shares in the last quarter. Finally, Analyst IMS Investment Management Services Ltd. raised its stake in ON by 37.8% during the first quarter. Analyst IMS Investment Management Services Ltd. now owns 49,120 shares of the company's stock worth $2,157,000 after acquiring an additional 13,480 shares in the last quarter. 36.39% of the stock is owned by institutional investors.

ON Stock Performance

NYSE ONON opened at $41.93 on Friday. The company has a market capitalization of $26.40 billion, a price-to-earnings ratio of 93.18, a PEG ratio of 5.20 and a beta of 2.19. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The stock has a fifty day simple moving average of $44.61 and a 200 day simple moving average of $48.70. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ONON shares. Needham & Company LLC reaffirmed a "buy" rating and set a $62.00 price target on shares of ON in a report on Tuesday, August 12th. Weiss Ratings restated a "sell (d+)" rating on shares of ON in a research report on Wednesday. Telsey Advisory Group restated an "outperform" rating and issued a $65.00 target price on shares of ON in a research report on Thursday, August 7th. Jefferies Financial Group set a $40.00 price target on ON and gave the company an "underperform" rating in a research note on Wednesday, August 13th. Finally, Raymond James Financial cut ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price target for the company. in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $64.20.

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.

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