Raymond James Financial Inc. Sells 26,154 Shares of On Holding AG $ONON

Key Points

• Raymond James Financial Inc. reduced its stake in On Holding AG by 5.0%, selling 26,154 shares during the first quarter, bringing its total ownership to 495,568 shares worth approximately $21.77 million.
• Several other institutional investors adjusted their holdings in On, with notable increases in stakes by CWM LLC (up 22.2%) and TCTC Holdings LLC (up 118.4%).
• The stock currently has a market capitalization of $28.47 billion and has seen a 1-year price range of $34.59 to $64.05, with analysts giving it a consensus rating of "Moderate Buy".

Raymond James Financial Inc. decreased its position in shares of On Holding AG (NYSE:ONON - Free Report) by 5.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 495,568 shares of the company's stock after selling 26,154 shares during the quarter. Raymond James Financial Inc. owned approximately 0.08% of ON worth $21,766,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Montag A & Associates Inc. bought a new position in ON in the first quarter valued at $26,000. TCTC Holdings LLC increased its stake in ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after acquiring an additional 315 shares during the last quarter. Park Square Financial Group LLC bought a new position in ON in the fourth quarter valued at $32,000. MassMutual Private Wealth & Trust FSB bought a new position in ON in the first quarter valued at $32,000. Finally, Bernard Wealth Management Corp. bought a new position in ON in the fourth quarter valued at $44,000. Institutional investors own 36.39% of the company's stock.

ON Trading Up 1.0%

NYSE ONON traded up $0.46 during trading on Friday, hitting $45.05. The company had a trading volume of 4,561,879 shares, compared to its average volume of 7,990,111. 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 one year low of $34.59 and a one year high of $64.05. The company has a market cap of $28.37 billion, a price-to-earnings ratio of 99.09, a price-to-earnings-growth ratio of 4.92 and a beta of 2.24. The company's fifty day moving average is $49.69 and its 200-day moving average is $49.71.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ONON shares. KeyCorp increased their target price on 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 ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price on the stock. in a research note on Tuesday, July 22nd. Barclays boosted their price target on shares of ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Needham & Company LLC reissued a "buy" rating and issued a $62.00 price target on shares of ON in a research note on Tuesday, August 12th. Finally, Cowen reissued a "buy" rating on shares of ON in a research note on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $64.20.

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.