Kovitz Investment Group Partners LLC Takes Position in On Holding AG $ONON

Key Points

• Kovitz Investment Group Partners LLC acquired 129,466 shares of On Holding AG (NYSE:ONON), valued at approximately $5,686,000, during the 1st quarter.
• Analysts have set a consensus average price target of $64.20 for ONON, with a mix of buy, hold, and sell ratings across various firms.
• As of the latest data, On Holding AG has a market capitalization of $28.55 billion, with 36.39% of its stock owned by institutional investors.

Kovitz Investment Group Partners LLC bought a new stake in On Holding AG (NYSE:ONON - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 129,466 shares of the company's stock, valued at approximately $5,686,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ONON. Montag A & Associates Inc. bought a new position in shares of ON in the 1st quarter valued at $26,000. TCTC Holdings LLC lifted its stake in shares of ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after acquiring an additional 315 shares during the last quarter. Park Square Financial Group LLC bought a new position in shares of ON in the 4th quarter valued at $32,000. MassMutual Private Wealth & Trust FSB bought a new position in shares of ON in the 1st quarter valued at $32,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of ON in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Trading Down 0.5%

Shares of ON stock traded down $0.2240 during trading on Tuesday, reaching $44.9960. 6,303,256 shares of the stock were exchanged, compared to its average volume of 8,361,644. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average is $50.98 and its 200 day moving average is $50.33. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of 99.99, a price-to-earnings-growth ratio of 2.48 and a beta of 2.24. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley increased their price target on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Telsey Advisory Group reiterated an "outperform" rating and issued a $65.00 price target on shares of ON in a research note on Thursday, August 7th. UBS Group increased their price target on ON from $75.00 to $79.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Stifel Nicolaus raised their target price on ON from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of ON in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.