Raymond James Financial Inc. Acquires Shares of 521,722 On Holding AG (NYSE:ONON)

Raymond James Financial Inc. acquired a new stake in On Holding AG (NYSE:ONON - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 521,722 shares of the company's stock, valued at approximately $28,575,000. Raymond James Financial Inc. owned approximately 0.08% of ON as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Advisors Inc. OK boosted its position in ON by 3.2% during the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company's stock valued at $350,000 after buying an additional 200 shares during the period. Keystone Investors PTE Ltd. lifted its stake in shares of ON by 0.8% in the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company's stock valued at $1,639,000 after acquiring an additional 228 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in ON by 2.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company's stock valued at $516,000 after acquiring an additional 259 shares during the period. Atria Investments Inc grew its position in ON by 6.6% during the 4th quarter. Atria Investments Inc now owns 5,515 shares of the company's stock worth $302,000 after acquiring an additional 341 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its stake in ON by 3.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 10,708 shares of the company's stock worth $586,000 after purchasing an additional 373 shares during the period. Institutional investors own 36.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ONON shares. Williams Trading raised their target price on shares of ON from $60.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus cut their price target on shares of ON from $66.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Barclays upped their price objective 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. Piper Sandler dropped their target price on shares of ON from $62.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, Bank of America began coverage on ON in a report on Tuesday, January 7th. They set a "buy" rating and a $73.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

ON Stock Up 4.9 %

Shares of ONON stock traded up $2.09 during trading hours on Wednesday, hitting $44.72. 1,558,705 shares of the company's stock traded hands, compared to its average volume of 4,646,449. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05. The stock has a market cap of $28.16 billion, a price-to-earnings ratio of 104.00, a PEG ratio of 1.02 and a beta of 2.32. The stock's fifty day simple moving average is $45.84 and its two-hundred day simple moving average is $51.62.

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.