Bank of Montreal Can Purchases 10,970 Shares of On Holding AG (NYSE:ONON)

Bank of Montreal Can lifted its stake in On Holding AG (NYSE:ONON - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,290 shares of the company's stock after purchasing an additional 10,970 shares during the period. Bank of Montreal Can's holdings in ON were worth $3,138,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of ON in the fourth quarter valued at about $164,574,000. Arrowstreet Capital Limited Partnership acquired a new position in ON during the fourth quarter worth $78,799,000. Axiom Investors LLC DE acquired a new stake in ON in the fourth quarter valued at $39,320,000. Raymond James Financial Inc. purchased a new position in shares of ON in the 4th quarter valued at about $28,575,000. Finally, Alliancebernstein L.P. lifted its stake in shares of ON by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock valued at $951,808,000 after purchasing an additional 471,805 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on ON from $62.00 to $66.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Bank of America initiated coverage on shares of ON in a report on Tuesday, January 7th. They set a "buy" rating and a $73.00 target price for the company. Stifel Nicolaus reduced 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. HSBC raised shares of ON from a "hold" rating to a "buy" rating and set a $58.00 price objective for the company in a research note on Tuesday, March 11th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $67.00 target price on shares of ON in a research note on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.00.

ON Stock Performance

NYSE ONON traded down $1.20 on Monday, reaching $41.30. The company's stock had a trading volume of 3,528,217 shares, compared to its average volume of 4,653,065. The firm's 50 day moving average is $46.03 and its two-hundred day moving average is $51.68. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05. The stock has a market cap of $26.00 billion, a PE ratio of 96.05, a PEG ratio of 1.02 and a beta of 2.32.

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.