Groupe la Francaise Takes $11.45 Million Position in On Holding AG $ONON

Key Points

• Groupe la Francaise has acquired a new stake in On Holding AG, purchasing 248,837 shares valued at approximately $11.45 million in Q1.
• Several large investors have also recently increased their holdings in On Holding AG, with institutional investors collectively owning 36.39% of the stock.
• Wall Street analysts hold a generally positive outlook on On Holding AG, with an average rating of "Moderate Buy" and an average target price of $64.20.

Groupe la Francaise purchased a new stake in On Holding AG (NYSE:ONON - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 248,837 shares of the company's stock, valued at approximately $11,447,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ONON. Invesco Ltd. increased its holdings in shares of ON by 4.0% in the fourth quarter. Invesco Ltd. now owns 41,287 shares of the company's stock valued at $2,261,000 after purchasing an additional 1,571 shares in the last quarter. MML Investors Services LLC boosted its stake in ON by 11.6% in the fourth quarter. MML Investors Services LLC now owns 48,190 shares of the company's stock valued at $2,639,000 after acquiring an additional 4,990 shares during the last quarter. Stifel Financial Corp boosted its stake in ON by 9.4% in the fourth quarter. Stifel Financial Corp now owns 193,081 shares of the company's stock valued at $10,575,000 after acquiring an additional 16,609 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in ON by 13.5% in the fourth quarter. OneDigital Investment Advisors LLC now owns 5,738 shares of the company's stock valued at $314,000 after acquiring an additional 682 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in ON by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,600,649 shares of the company's stock valued at $87,668,000 after acquiring an additional 79,680 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Trading Down 0.6%

Shares of ONON stock traded down $0.27 during trading hours on Thursday, hitting $44.91. 1,514,052 shares of the company's stock traded hands, compared to its average volume of 5,432,807. The stock's 50 day simple moving average is $49.99 and its 200 day simple moving average is $49.85. The stock has a market cap of $28.28 billion, a PE ratio of 99.81, a price-to-earnings-growth ratio of 4.99 and a beta of 2.24. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. KeyCorp raised their price objective on shares of ON from $60.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Raymond James Financial cut shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price objective on the stock. in a research report on Tuesday, July 22nd. Truist Financial boosted their price target on shares of ON from $61.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Stifel Nicolaus boosted 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. Finally, Morgan Stanley boosted their price target on ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

About ON

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.