Northwest & Ethical Investments L.P. Acquires 11,548 Shares of On Holding AG $ONON

Key Points

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Northwest & Ethical Investments L.P. boosted its holdings in On Holding AG (NYSE:ONON - Free Report) by 55.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,286 shares of the company's stock after buying an additional 11,548 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in ON were worth $1,418,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Montag A & Associates Inc. acquired a new stake in shares of ON during the 1st quarter worth approximately $26,000. TCTC Holdings LLC grew its position in 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 purchasing an additional 315 shares during the period. Park Square Financial Group LLC acquired a new stake in ON in the 4th quarter valued at $32,000. MassMutual Private Wealth & Trust FSB purchased a new position in ON during the 1st quarter worth $32,000. Finally, Bernard Wealth Management Corp. purchased a new position in ON during the 4th quarter worth $44,000. Institutional investors own 36.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ONON. Barclays reiterated an "overweight" rating and set a $69.00 target price (up from $68.00) on shares of ON in a research note on Wednesday, August 13th. Piper Sandler reiterated an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Morgan Stanley reiterated an "overweight" rating and set a $65.00 target price (up from $62.00) on shares of ON in a research note on Wednesday, August 13th. Needham & Company LLC restated a "buy" rating and issued a $62.00 price objective on shares of ON in a research note on Tuesday, August 12th. Finally, Raymond James Financial cut ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price objective on the stock. in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.20.

ON Stock Down 0.3%

Shares of NYSE ONON opened at $45.20 on Tuesday. The firm has a market capitalization of $28.46 billion, a price-to-earnings ratio of 100.45, a PEG ratio of 2.49 and a beta of 2.24. The business has a 50-day moving average of $51.22 and a 200-day moving average of $50.37. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05.

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.

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