Mirova Takes $633,000 Position in On Holding AG (NYSE:ONON)

Mirova acquired a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,554 shares of the company's stock, valued at approximately $633,000.

Other institutional investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC boosted its holdings in ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock worth $877,000 after purchasing an additional 6,808 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock valued at $76,213,000 after acquiring an additional 349,789 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of ON during the fourth quarter valued at approximately $30,000. Principal Financial Group Inc. lifted its holdings in ON by 96.5% during the third quarter. Principal Financial Group Inc. now owns 101,784 shares of the company's stock worth $5,104,000 after acquiring an additional 49,995 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in ON by 102.1% during the fourth quarter. New York State Common Retirement Fund now owns 221,820 shares of the company's stock worth $12,149,000 after acquiring an additional 112,078 shares during the period. Institutional investors own 36.39% of the company's stock.

ON Stock Performance

NYSE ONON traded up $1.27 on Wednesday, hitting $43.90. The stock had a trading volume of 3,872,415 shares, compared to its average volume of 4,662,310. The firm has a 50-day moving average of $45.84 and a 200-day moving average of $51.62. On Holding AG has a 52-week low of $29.84 and a 52-week high of $64.05. The company has a market capitalization of $27.64 billion, a price-to-earnings ratio of 102.10, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group started coverage on ON in a research report on Tuesday, April 1st. They set a "hold" rating and a $44.00 target price for the company. Stifel Nicolaus lowered their price objective on shares of ON from $66.00 to $57.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Barclays boosted their target price on shares of ON from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. TD Cowen raised their price target on shares of ON from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC dropped their price objective on ON from $64.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ON has an average rating of "Moderate Buy" and an average target price of $60.00.

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, 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.