On Holding AG (NYSE:ONON) Shares Purchased by Y.D. More Investments Ltd

Key Points

• Y.D. More Investments Ltd increased its stake in On Holding AG by 123.7% during Q1, now owning 50,700 shares valued at approximately $2.23 million.
• Major hedge fund activity included Jennison Associates LLC boosting its stake by 136.6%, now holding 4.85 million shares valued at around $212.94 million.
• Analysts are optimistic, with Evercore ISI raising their target price for ON stock to $70.00 and many ratings leaning towards 'buy' or 'outperform'.

Y.D. More Investments Ltd grew its position in shares of On Holding AG (NYSE:ONON - Free Report) by 123.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 50,700 shares of the company's stock after purchasing an additional 28,040 shares during the quarter. Y.D. More Investments Ltd's holdings in ON were worth $2,227,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Jennison Associates LLC boosted its stake in 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 in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in ON by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company's stock valued at $184,109,000 after acquiring an additional 18,752 shares during the last quarter. Voloridge Investment Management LLC boosted its position in shares of ON by 10.7% during the 4th quarter. Voloridge Investment Management LLC now owns 2,026,890 shares of the company's stock valued at $111,013,000 after purchasing an additional 196,270 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ON by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,600,649 shares of the company's stock worth $87,668,000 after purchasing an additional 79,680 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of ON by 9.1% in the 1st quarter. Federated Hermes Inc. now owns 1,395,163 shares of the company's stock worth $61,276,000 after purchasing an additional 116,759 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Raymond James Financial cut ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price on the stock. in a report on Tuesday, July 22nd. Citigroup raised ON from a "neutral" rating to a "buy" rating and reduced their target price for the company from $65.00 to $60.00 in a report on Monday, April 28th. Needham & Company LLC lifted their price target on ON from $55.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $65.00 price objective on shares of ON in a report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $64.00.

ON Trading Down 0.7%

NYSE:ONON opened at $46.81 on Thursday. The company has a market capitalization of $29.47 billion, a P/E ratio of 66.87, a P/E/G ratio of 2.69 and a beta of 2.24. The stock's 50 day moving average price is $53.11 and its 200 day moving average price is $51.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05.

ON Company 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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