US Bancorp DE Has $2.31 Million Stock Holdings in On Holding AG $ONON

Key Points

• US Bancorp DE has reduced its stake in On Holding AG by 15.8%, now holding 44,338 shares worth approximately $2.31 million.
• A number of institutional investors have made significant changes to their positions in On Holding AG, with 36.39% of the stock currently owned by hedge funds and other institutions.
• Analysts have mixed views on ONON, with price targets ranging from $62 to $79 and an average rating of "Moderate Buy."

US Bancorp DE trimmed its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 15.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,338 shares of the company's stock after selling 8,326 shares during the period. US Bancorp DE's holdings in ON were worth $2,308,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ONON. Montag A & Associates Inc. acquired a new stake in shares of ON during the first quarter worth $26,000. TCTC Holdings LLC raised its holdings in shares of ON by 118.4% during the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after acquiring an additional 315 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of ON by 3,392.6% during the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock worth $42,000 after acquiring an additional 916 shares during the period. Ramirez Asset Management Inc. acquired a new stake in shares of ON during the first quarter worth $44,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of ON during the first quarter worth $48,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ONON stock opened at $41.54 on Thursday. The company has a market capitalization of $26.16 billion, a price-to-earnings ratio of 92.32, a PEG ratio of 5.24 and a beta of 2.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The company has a 50-day simple moving average of $44.32 and a 200 day simple moving average of $48.61. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ONON shares. UBS Group raised their price objective on shares of ON from $75.00 to $79.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Telsey Advisory Group reiterated an "outperform" rating and issued a $65.00 price target on shares of ON in a research note on Thursday, August 7th. Barclays lifted their price target on shares of ON from $68.00 to $69.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Needham & Company LLC reiterated a "buy" rating and issued a $62.00 price target on shares of ON in a research note on Tuesday, August 12th. Finally, Zacks Research lowered shares of ON from a "hold" rating to a "strong sell" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $63.65.

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.

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