Russell Investments Group Ltd. Grows Stock Holdings in On Holding AG (NYSE:ONON)

Russell Investments Group Ltd. grew its stake in On Holding AG (NYSE:ONON - Free Report) by 43.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,707 shares of the company's stock after buying an additional 94,634 shares during the period. Russell Investments Group Ltd.'s holdings in ON were worth $17,169,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Strategic Financial Concepts LLC purchased a new position in shares of ON in the fourth quarter worth about $30,000. Legacy Bridge LLC purchased a new position in shares of ON in the fourth quarter valued at about $43,000. Arcadia Investment Management Corp MI purchased a new stake in ON in the 4th quarter worth approximately $53,000. VisionPoint Advisory Group LLC bought a new stake in ON in the fourth quarter valued at $65,000. Finally, Blue Trust Inc. increased its position in ON by 148.8% during the 4th 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 owned by institutional investors.

ON Trading Down 1.1 %

Shares of NYSE ONON traded down $0.45 during trading hours on Tuesday, reaching $42.72. The stock had a trading volume of 1,090,850 shares, compared to its average volume of 4,638,838. On Holding AG has a 52-week low of $29.84 and a 52-week high of $64.05. The business's fifty day moving average price is $47.41 and its two-hundred day moving average price is $51.96. The firm has a market cap of $26.90 billion, a price-to-earnings ratio of 99.21, a P/E/G ratio of 1.02 and a beta of 2.32.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ONON shares. TD Cowen boosted their price target on shares of ON from $65.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Jefferies Financial Group assumed coverage on shares of ON in a research report on Tuesday, April 1st. They issued a "hold" rating and a $44.00 target price on the stock. KeyCorp restated an "overweight" rating and issued a $68.00 price objective on shares of ON in a report on Wednesday, March 5th. Williams Trading boosted their price target on ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Finally, Citigroup started coverage on ON in a report on Wednesday, December 18th. They set a "neutral" rating and a $65.00 price target for the company. Three research 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

ON Company 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.