Franklin Resources Inc. Buys 26,595 Shares of On Holding AG (NYSE:ONON)

Franklin Resources Inc. raised its stake in On Holding AG (NYSE:ONON - Free Report) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,017,842 shares of the company's stock after acquiring an additional 26,595 shares during the period. Franklin Resources Inc. owned about 0.16% of ON worth $55,747,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Apollon Wealth Management LLC lifted its holdings in ON by 74.0% during the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock valued at $877,000 after purchasing an additional 6,808 shares during the last quarter. RB Capital Management LLC boosted its holdings in shares of ON by 214.8% in the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company's stock worth $1,125,000 after acquiring an additional 15,303 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in ON by 34.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock worth $76,213,000 after acquiring an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in ON during the 4th quarter valued at $30,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company's stock worth $4,195,000 after purchasing an additional 71,436 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ONON has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Hsbc Global Res upgraded ON from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Bank of America initiated coverage on shares of ON in a research note on Tuesday, January 7th. They issued a "buy" rating and a $73.00 target price on the stock. Citigroup initiated coverage on ON in a research note on Wednesday, December 18th. They set a "neutral" rating and a $65.00 price objective for the company. Finally, Stifel Nicolaus reduced their target price on ON from $66.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.05.

ON Price Performance

NYSE:ONON traded down $2.91 during trading hours on Thursday, reaching $42.10. 1,999,317 shares of the stock were exchanged, compared to its average volume of 4,637,243. 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 $26.51 billion, a PE ratio of 97.97, a PEG ratio of 1.02 and a beta of 2.32. The firm has a 50 day moving average of $48.34 and a 200 day moving average of $52.11.

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.