On Holding AG (NYSE:ONON) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in On Holding AG (NYSE:ONON) by 96.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,784 shares of the company’s stock after buying an additional 49,995 shares during the period. Principal Financial Group Inc.’s holdings in ON were worth $5,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Van ECK Associates Corp purchased a new position in ON during the second quarter worth approximately $257,000. TD Asset Management Inc purchased a new position in shares of ON during the 2nd quarter worth $1,521,000. National Bank of Canada FI raised its holdings in shares of ON by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock worth $98,000 after acquiring an additional 500 shares during the period. Private Advisor Group LLC boosted its position in shares of ON by 48.6% during the 2nd quarter. Private Advisor Group LLC now owns 21,875 shares of the company’s stock valued at $849,000 after acquiring an additional 7,154 shares during the last quarter. Finally, Asset Dedication LLC grew its holdings in shares of ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ONON has been the topic of several recent analyst reports. KeyCorp boosted their target price on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Williams Trading upgraded ON from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $60.00 in a research report on Wednesday, November 13th. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. Citigroup started coverage on ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price target for the company. Finally, Truist Financial boosted their price objective on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.77.

ON Stock Performance

Shares of ON stock opened at $55.37 on Friday. The business has a 50-day simple moving average of $54.50 and a 200-day simple moving average of $47.54. The company has a market cap of $34.86 billion, a PE ratio of 128.77 and a beta of 2.30. On Holding AG has a one year low of $25.78 and a one year high of $60.12.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.