Korea Investment CORP Takes $5.64 Million Position in On Holding AG $ONON

Korea Investment CORP acquired a new stake in On Holding AG (NYSE:ONON) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 133,183 shares of the company’s stock, valued at approximately $5,640,000.

A number of other large investors have also recently bought and sold shares of the business. Winslow Capital Management LLC bought a new position in ON during the second quarter valued at about $248,113,000. Sands Capital Management LLC bought a new stake in shares of ON during the 2nd quarter worth about $240,177,000. Bamco Inc. NY increased its holdings in shares of ON by 3.3% during the 2nd quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock valued at $215,486,000 after acquiring an additional 132,756 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of ON by 9.9% during the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock valued at $171,876,000 after acquiring an additional 365,907 shares during the last quarter. Finally, Norges Bank bought a new position in shares of ON in the 2nd quarter valued at approximately $138,641,000. 36.39% of the stock is currently owned by institutional investors.

ON Stock Performance

Shares of NYSE ONON opened at $37.87 on Friday. On Holding AG has a 12 month low of $34.38 and a 12 month high of $61.29. The company has a market cap of $23.78 billion, a P/E ratio of 52.60, a P/E/G ratio of 0.76 and a beta of 2.14. The business’s 50 day moving average is $45.51 and its two-hundred day moving average is $44.23. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ONON shares. Stifel Nicolaus set a $58.00 target price on ON in a report on Tuesday, March 3rd. TD Cowen lifted their price target on shares of ON from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Sanford C. Bernstein restated an “outperform” rating on shares of ON in a research note on Wednesday, March 4th. Bank of America upped their price objective on shares of ON from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Evercore set a $58.00 target price on shares of ON and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and an average target price of $59.48.

ON Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.