On Holding AG $ONON Shares Purchased by Bank of New York Mellon Corp
Bank of New York Mellon Corp increased its holdings in On Holding AG by 773.7% in Q2, owning 345,428 shares worth $17.98 million. Other institutional investors also modified their holdings. Analysts have mixed ratings, with a consensus target price of $61.14. ONON opened at $42.51, with a market cap of $26.77 billion and a P/E ratio of 55.21.
Bank of New York Mellon Corp grew its holdings in On Holding AG (NYSE:ONON - Free Report) by 773.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,428 shares of the company's stock after acquiring an additional 305,894 shares during the period. Bank of New York Mellon Corp owned about 0.05% of ON worth $17,980,000 at the end of the most recent quarter.
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A number of other institutional investors have also modified their holdings of the stock. Ramirez Asset Management Inc. raised its position in ON by 20.0% during the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company's stock worth $62,000 after acquiring an additional 200 shares during the period. CWM LLC grew its holdings in shares of ON by 22.2% during the 1st quarter. CWM LLC now owns 1,259 shares of the company's stock worth $55,000 after purchasing an additional 229 shares during the period. Asset Management One Co. Ltd. boosted its stake in ON by 1.0% during the second quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company's stock worth $1,298,000 after buying an additional 243 shares during the period. Sterling Investment Counsel LLC boosted its holdings in ON by 5.5% in the second quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company's stock valued at $299,000 after purchasing an additional 300 shares during the last quarter. Finally, TCTC Holdings LLC boosted its stake in ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after acquiring an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.
ON Price Performance
NYSE ONON opened at $42.51 on Monday. The company has a market cap of $26.77 billion, a P/E ratio of 55.21, a P/E/G ratio of 4.11 and a beta of 2.18. The company has a fifty day simple moving average of $41.63 and a 200 day simple moving average of $48.18. On Holding AG has a 1 year low of $34.38 and a 1 year high of $64.05. 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 Analyst Weigh In
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ONON has been the subject of several recent research reports. Jefferies Financial Group reiterated an "underperform" rating and set a $31.00 target price on shares of ON in a research note on Wednesday. Morgan Stanley increased their price target on ON from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Thursday. Telsey Advisory Group reiterated an "outperform" rating and set a $65.00 price objective on shares of ON in a research note on Thursday. Raymond James Financial lowered their price objective on shares of ON from $66.00 to $55.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 21st. Finally, BTIG Research reaffirmed a "buy" rating and set a $70.00 target price on shares of ON in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.14.
Read Our Latest Analysis on ONON
About ON
(Free Report)- 3 High P/E Stocks Justified by Future Upside Potential
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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