T. Rowe Price Investment Management Inc. increased its position in On Holding AG (NYSE:ONON - Free Report) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,361,491 shares of the company's stock after acquiring an additional 18,752 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.53% of ON worth $184,109,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. State Street Corp grew its position in ON by 1.8% during the third quarter. State Street Corp now owns 228,847 shares of the company's stock worth $11,477,000 after buying an additional 4,152 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of ON during the third quarter worth about $259,000. Lord Abbett & CO. LLC increased its position in shares of ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company's stock worth $29,834,000 after purchasing an additional 459,157 shares during the last quarter. Principal Financial Group Inc. raised its stake in ON by 96.5% in the third quarter. Principal Financial Group Inc. now owns 101,784 shares of the company's stock valued at $5,104,000 after purchasing an additional 49,995 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in ON by 12.7% during the fourth quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company's stock valued at $566,000 after purchasing an additional 1,161 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.
ON Stock Performance
ONON opened at $43.90 on Thursday. The stock's 50 day moving average price is $45.84 and its 200-day moving average price is $51.62. On Holding AG has a 52-week low of $29.84 and a 52-week high of $64.05. The stock has a market capitalization of $27.64 billion, a PE ratio of 102.10, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of ON from $62.00 to $66.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. UBS Group lifted their price target on ON from $65.00 to $73.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. HSBC raised ON from a "hold" rating to a "buy" rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. Stifel Nicolaus cut their target price on ON from $66.00 to $57.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Jefferies Financial Group started coverage on shares of ON in a research note on Tuesday, April 1st. They set a "hold" rating and a $44.00 price target on the stock. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.00.
Check Out Our Latest Stock Analysis on ONON
ON Company 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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