Itau Unibanco Holding S.A. purchased a new stake in shares of On Holding AG (NYSE:ONON - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,392 shares of the company's stock, valued at approximately $1,291,000.
Several other hedge funds have also modified their holdings of ONON. Jennison Associates LLC lifted its position in shares of ON by 136.6% during the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company's stock valued at $212,943,000 after buying an additional 2,798,794 shares during the last quarter. Nuveen LLC purchased a new stake in shares of ON during the first quarter valued at about $102,850,000. BNP Paribas Financial Markets purchased a new stake in shares of ON during the fourth quarter valued at about $39,119,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of ON by 355.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 910,000 shares of the company's stock valued at $39,967,000 after purchasing an additional 710,000 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of ON by 746.6% in the 1st quarter. Jump Financial LLC now owns 717,740 shares of the company's stock valued at $31,523,000 after purchasing an additional 632,965 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently commented on ONON. Raymond James Financial lowered shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price objective for the company. in a research report on Tuesday, July 22nd. Morgan Stanley increased their price objective on shares of ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $62.00 price objective on shares of ON in a research report on Tuesday, August 12th. Jefferies Financial Group set a $40.00 price objective on shares of ON and gave the company an "underperform" rating in a research report on Wednesday, August 13th. Finally, Stifel Nicolaus increased their price objective on shares of ON from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.20.
Check Out Our Latest Stock Report on ON
ON Stock Performance
ONON traded up $0.46 during trading on Monday, reaching $45.05. 4,561,879 shares of the company's stock were exchanged, compared to its average volume of 7,780,656. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The stock has a market capitalization of $28.37 billion, a P/E ratio of 100.12, a price-to-earnings-growth ratio of 4.97 and a beta of 2.23. The company's fifty day simple moving average is $49.69 and its 200-day simple moving average is $49.67.
About ON
(
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.
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