Mackenzie Financial Corp Buys Shares of 7,764 On Holding AG (NYSE:ONON)

Mackenzie Financial Corp purchased a new stake in shares of On Holding AG (NYSE:ONON - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,764 shares of the company's stock, valued at approximately $425,000.

Other institutional investors have also bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in ON during the 4th quarter valued at $30,000. Bernard Wealth Management Corp. bought a new position in ON during the fourth quarter valued at $44,000. Arcadia Investment Management Corp MI purchased a new stake in shares of ON in the fourth quarter valued at $53,000. VisionPoint Advisory Group LLC bought a new stake in shares of ON in the 4th quarter worth about $65,000. Finally, Blue Trust Inc. boosted its stake in shares of ON by 148.8% during the 4th quarter. Blue Trust Inc. now owns 1,316 shares of the company's stock worth $66,000 after purchasing an additional 787 shares during the period. Institutional investors own 36.39% of the company's stock.

Analysts Set New Price Targets

ONON has been the subject of several analyst reports. UBS Group set a $75.00 price objective on shares of ON in a research note on Wednesday, May 14th. Evercore ISI raised their price target on ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Williams Trading boosted their price objective on ON from $60.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Piper Sandler reiterated an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Finally, KeyCorp lifted their target price on ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $62.45.

ON Stock Down 0.5%

Shares of NYSE ONON traded down $0.29 during mid-day trading on Friday, reaching $56.67. 1,585,002 shares of the company were exchanged, compared to its average volume of 4,579,087. The firm has a 50-day moving average of $49.69 and a 200 day moving average of $52.55. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05. The stock has a market cap of $35.68 billion, a price-to-earnings ratio of 131.67, a P/E/G ratio of 1.02 and a beta of 2.35.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.