Korea Investment CORP Invests $5.64 Million in On Holding AG $ONON

Korea Investment CORP acquired a new stake in shares of On Holding AG (NYSE:ONON) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 133,183 shares of the company’s stock, valued at approximately $5,640,000.

A number of other institutional investors have also added to or reduced their stakes in ONON. Norges Bank bought a new stake in shares of ON in the 2nd quarter worth approximately $138,641,000. Great Point Wealth Advisors LLC acquired a new position in shares of ON in the third quarter valued at $1,607,000. Geode Capital Management LLC acquired a new position in shares of ON in the second quarter valued at $70,152,000. Lecap Asset Management Ltd. bought a new position in ON in the third quarter worth $1,473,000. Finally, Winslow Capital Management LLC acquired a new stake in ON during the second quarter worth $248,113,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ONON has been the topic of several analyst reports. Zacks Research raised shares of ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of ON in a research report on Thursday, February 26th. UBS Group reissued a “buy” rating on shares of ON in a research note on Thursday, February 19th. Sanford C. Bernstein reissued an “outperform” rating on shares of ON in a research report on Wednesday, March 4th. Finally, Evercore set a $58.00 price target on shares of ON and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.48.

ON Stock Down 4.0%

Shares of NYSE ONON opened at $37.87 on Friday. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. The business has a fifty day moving average of $45.51 and a two-hundred day moving average of $44.23. The stock has a market cap of $23.78 billion, a PE ratio of 52.60, a PEG ratio of 0.76 and a beta of 2.14.

ON Company 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.