WT Asset Management Ltd Grows Stock Holdings in On Holding AG (NYSE:ONON)

WT Asset Management Ltd grew its holdings in On Holding AG (NYSE:ONON - Free Report) by 67.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 222,100 shares of the company's stock after buying an additional 89,116 shares during the quarter. ON makes up about 1.1% of WT Asset Management Ltd's investment portfolio, making the stock its 20th largest holding. WT Asset Management Ltd's holdings in ON were worth $9,755,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its position in shares of ON by 28.1% in the 4th quarter. Principal Financial Group Inc. now owns 130,381 shares of the company's stock worth $7,141,000 after purchasing an additional 28,597 shares during the period. Oppenheimer & Co. Inc. raised its stake in ON by 5.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 10,141 shares of the company's stock worth $555,000 after buying an additional 480 shares in the last quarter. US Bancorp DE lifted its holdings in ON by 176.9% in the fourth quarter. US Bancorp DE now owns 48,867 shares of the company's stock worth $2,676,000 after buying an additional 31,218 shares during the period. Jones Financial Companies Lllp boosted its position in ON by 33.2% during the 4th quarter. Jones Financial Companies Lllp now owns 17,181 shares of the company's stock valued at $941,000 after acquiring an additional 4,287 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of ON during the 4th quarter worth approximately $260,000. 36.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ONON. Telsey Advisory Group restated an "outperform" rating and set a $65.00 price target on shares of ON in a research report on Tuesday, May 13th. Stifel Nicolaus raised their price objective on ON from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of ON in a research report on Wednesday, May 14th. Jefferies Financial Group assumed coverage on shares of ON in a research note on Tuesday, April 1st. They issued a "hold" rating and a $44.00 price target for the company. Finally, Evercore ISI boosted their price objective on shares of ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $63.85.

ON Stock Up 1.0%

Shares of ON stock traded up $0.55 on Friday, reaching $54.25. The company's stock had a trading volume of 3,203,823 shares, compared to its average volume of 4,663,080. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The firm's fifty day simple moving average is $54.40 and its two-hundred day simple moving average is $52.00. The company has a quick ratio of 2.18, a current ratio of 2.80 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $34.16 billion, a price-to-earnings ratio of 77.49, a P/E/G ratio of 3.07 and a beta of 2.25.

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.