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Federated Hermes Inc. Grows Stock Position in On Holding AG (NYSE:ONON)

ON logo with Retail/Wholesale background

Key Points

  • Federated Hermes Inc. increased its stake in On Holding AG by 9.1%, owning approximately 1.4 million shares valued at $61.3 million as of the latest SEC filing.
  • Multiple institutional investors, including Kestra Private Wealth Services and APEIRON CAPITAL Ltd., have also significantly increased their holdings in On, indicating growing confidence in the stock.
  • Wall Street analysts exhibit positive sentiment towards On Holding, with the consensus price target set at $64.00 and nineteen analysts recommending a buy rating.
  • Five stocks we like better than ON.
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Federated Hermes Inc. lifted its position in On Holding AG (NYSE:ONON - Free Report) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,395,163 shares of the company's stock after buying an additional 116,759 shares during the period. Federated Hermes Inc. owned approximately 0.22% of ON worth $61,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ONON. Kestra Private Wealth Services LLC raised its position in shares of ON by 151.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company's stock valued at $829,000 after purchasing an additional 11,362 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of ON in the 4th quarter valued at approximately $39,119,000. APEIRON CAPITAL Ltd raised its position in shares of ON by 35.9% in the 1st quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company's stock valued at $43,882,000 after purchasing an additional 264,000 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in shares of ON by 9.5% in the 1st quarter. OneDigital Investment Advisors LLC now owns 6,282 shares of the company's stock valued at $276,000 after purchasing an additional 544 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of ON in the 4th quarter valued at approximately $28,575,000. Hedge funds and other institutional investors own 36.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group set a $75.00 price objective on shares of ON in a research report on Wednesday, May 14th. Barclays set a $68.00 target price on ON in a report on Wednesday, May 14th. Needham & Company LLC raised their price target on shares of ON from $55.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Piper Sandler reissued an "overweight" rating on shares of ON in a research report on Tuesday, May 13th. Finally, Stifel Nicolaus raised their price target on shares of ON from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

Read Our Latest Report on ONON

ON Price Performance

Shares of ON stock traded down $1.06 on Wednesday, reaching $50.69. The company's stock had a trading volume of 5,531,019 shares, compared to its average volume of 4,545,541. The company has a market capitalization of $31.92 billion, a P/E ratio of 72.41, a PEG ratio of 2.91 and a beta of 2.25. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The stock has a 50-day moving average price of $54.46 and a 200-day moving average price of $51.60. The company has a quick ratio of 2.18, a current ratio of 2.80 and a debt-to-equity ratio of 0.19.

ON Profile

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

See Also

Institutional Ownership by Quarter for ON (NYSE:ONON)

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