KRS Capital Management LLC Trims Holdings in On Holding AG $ONON

KRS Capital Management LLC decreased its holdings in On Holding AG (NYSE:ONON) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,560 shares of the company’s stock after selling 425 shares during the period. KRS Capital Management LLC’s holdings in ON were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ONON. Jennison Associates LLC increased its stake in ON by 136.6% in the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after purchasing an additional 2,798,794 shares during the period. Alliancebernstein L.P. increased its stake in shares of ON by 13.9% during the first 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 during the period. Nuveen LLC purchased a new position in shares of ON during the first quarter valued at $102,850,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of ON during the second quarter valued at $41,208,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of ON by 355.0% during the first 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 during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

Shares of ONON stock opened at $43.30 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The company has a market cap of $27.26 billion, a P/E ratio of 96.22, a PEG ratio of 5.42 and a beta of 2.19. The stock’s 50-day moving average is $44.71 and its 200 day moving average is $48.72. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05.

Analysts Set New Price Targets

Several brokerages have recently commented on ONON. UBS Group raised their price target on ON from $75.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Jefferies Financial Group set a $40.00 price target on ON and gave the company an “underperform” rating in a research note on Wednesday, August 13th. Telsey Advisory Group restated an “outperform” rating and set a $65.00 price target on shares of ON in a research note on Thursday, August 7th. Barclays raised their price target on ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $62.00 price target on shares of ON in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.20.

ON Profile

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.