Federated Hermes Inc. trimmed its stake in On Holding AG (NYSE:ONON - Free Report) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,278,404 shares of the company's stock after selling 28,710 shares during the period. Federated Hermes Inc. owned about 0.20% of ON worth $70,018,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC purchased a new stake in shares of ON during the fourth quarter worth approximately $30,000. Legacy Bridge LLC purchased a new stake in ON in the 4th quarter valued at $43,000. Arcadia Investment Management Corp MI acquired a new stake in ON during the 4th quarter worth $53,000. VisionPoint Advisory Group LLC purchased a new position in ON during the 4th quarter worth $65,000. Finally, Blue Trust Inc. increased its stake in ON by 148.8% in the fourth quarter. Blue Trust Inc. now owns 1,316 shares of the company's stock valued at $66,000 after purchasing an additional 787 shares during the period. 36.39% of the stock is currently owned by hedge funds and other institutional investors.
ON Price Performance
ONON traded up $0.49 during trading on Friday, hitting $43.51. The company's stock had a trading volume of 4,352,427 shares, compared to its average volume of 4,670,422. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05. The firm's 50 day moving average price is $48.03 and its 200-day moving average price is $52.06. The stock has a market cap of $27.40 billion, a PE ratio of 101.19, a PEG ratio of 1.02 and a beta of 2.32.
Analyst Ratings Changes
ONON has been the topic of several recent research reports. The Goldman Sachs Group cut ON from a "buy" rating to a "neutral" rating and set a $57.00 price target on the stock. in a research report on Wednesday, February 12th. Jefferies Financial Group initiated coverage on shares of ON in a research report on Tuesday, April 1st. They set a "hold" rating and a $44.00 price objective for the company. Williams Trading boosted their price target on shares of ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. HSBC upgraded shares of ON from a "hold" rating to a "buy" rating and set a $58.00 price objective for the company in a research report on Tuesday, March 11th. Finally, Needham & Company LLC reduced their price target on ON from $64.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.
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ON Profile
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Free Report)
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.
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