Capricorn Fund Managers Ltd Purchases Shares of 54,000 On Holding AG $ONON

Capricorn Fund Managers Ltd purchased a new stake in shares of On Holding AG (NYSE:ONON) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 54,000 shares of the company’s stock, valued at approximately $2,811,000.

Several other institutional investors have also added to or reduced their stakes in ONON. Jennison Associates LLC grew its holdings in ON by 136.6% during the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock valued at $212,943,000 after buying an additional 2,798,794 shares in the last quarter. Alliancebernstein L.P. grew its holdings in ON by 13.9% during the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after buying an additional 2,416,534 shares in the last quarter. Nuveen LLC purchased a new position in ON during the 1st quarter valued at approximately $102,850,000. Robeco Institutional Asset Management B.V. purchased a new position in ON during the 2nd quarter valued at approximately $41,208,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in ON by 355.0% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 910,000 shares of the company’s stock valued at $39,967,000 after buying an additional 710,000 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

Shares of ONON stock opened at $42.11 on Friday. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. 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 firm has a market capitalization of $26.52 billion, a P/E ratio of 93.58, a P/E/G ratio of 5.47 and a beta of 2.19. The stock has a 50 day moving average price of $45.33 and a 200 day moving average price of $48.83.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ONON. Needham & Company LLC restated a “buy” rating and set a $62.00 price target on shares of ON in a report on Tuesday, August 12th. UBS Group lifted their target price on ON from $75.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Morgan Stanley lifted their target price on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Barclays lifted their target price on ON from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Finally, Jefferies Financial Group set a $40.00 target price on ON and gave the stock an “underperform” rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.