Legal & General Group Plc Purchases 32,578 Shares of On Holding AG $ONON

Legal & General Group Plc raised its position in shares of On Holding AG (NYSE:ONON) by 53.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,256 shares of the company’s stock after buying an additional 32,578 shares during the quarter. Legal & General Group Plc’s holdings in ON were worth $4,854,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in shares of ON by 106.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock worth $3,570,000 after buying an additional 35,391 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of ON by 36.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company’s stock valued at $494,000 after acquiring an additional 3,025 shares during the last quarter. Red Spruce Capital LLC grew its position in ON by 64.8% in the second quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock worth $1,851,000 after acquiring an additional 13,980 shares in the last quarter. Citigroup Inc. increased its stake in ON by 73.1% during the first quarter. Citigroup Inc. now owns 213,127 shares of the company’s stock worth $9,361,000 after acquiring an additional 89,982 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in ON during the second quarter worth approximately $43,344,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Down 1.1%

Shares of ONON opened at $46.55 on Friday. The firm has a market capitalization of $29.23 billion, a P/E ratio of 60.45, a P/E/G ratio of 2.76 and a beta of 2.16. On Holding AG has a 12-month low of $34.38 and a 12-month high of $64.05. The firm has a fifty day moving average price of $41.37 and a 200-day moving average price of $47.37. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Needham & Company LLC dropped their target price on ON from $62.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. TD Cowen raised their price target on ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. Citigroup lowered shares of ON from a “buy” rating to a “mixed” rating in a report on Tuesday, October 28th. Finally, Piper Sandler lifted their price target on shares of ON from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.38.

ON Company 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.