Principal Securities Inc. Acquires 610 Shares of On Holding AG (NYSE:ONON)

Principal Securities Inc. increased its stake in On Holding AG (NYSE:ONON) by 32.1% in the 4th quarter, HoldingsChannel reports. The fund owned 2,513 shares of the company’s stock after acquiring an additional 610 shares during the period. Principal Securities Inc.’s holdings in ON were worth $138,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ONON. Private Trust Co. NA purchased a new position in ON in the 3rd quarter worth about $26,000. Blue Trust Inc. grew its position in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of ON during the third quarter valued at $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. Finally, Legacy Bridge LLC bought a new stake in shares of ON in the 4th quarter valued at about $43,000. 36.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial lifted their price target on ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup assumed coverage on shares of ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a research report on Wednesday, February 12th. Robert W. Baird upped their price target on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, UBS Group reaffirmed a “buy” rating and set a $63.00 target price on shares of ON in a research report on Friday, December 27th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.73.

ON Stock Performance

ON stock opened at $48.43 on Wednesday. The company has a market capitalization of $30.49 billion, a P/E ratio of 112.62, a PEG ratio of 1.02 and a beta of 2.30. On Holding AG has a fifty-two week low of $27.37 and a fifty-two week high of $64.05. The stock has a 50-day simple moving average of $56.02 and a 200-day simple moving average of $52.24.

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, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.