Raymond James Financial Inc. Has $21.77 Million Position in 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. lowered its holdings in On Holding AG (NYSE:ONON - Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 495,568 shares of the company's stock after selling 26,154 shares during the quarter. Raymond James Financial Inc. owned 0.08% of ON worth $21,766,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew 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 worth $212,943,000 after buying an additional 2,798,794 shares during the last quarter. Nuveen LLC bought a new stake in ON during the first quarter worth about $102,850,000. Voloridge Investment Management LLC grew its stake in ON by 10.7% during the fourth quarter. Voloridge Investment Management LLC now owns 2,026,890 shares of the company's stock worth $111,013,000 after buying an additional 196,270 shares during the last quarter. Federated Hermes Inc. grew its stake in ON by 9.1% during the first quarter. Federated Hermes Inc. now owns 1,395,163 shares of the company's stock worth $61,276,000 after buying an additional 116,759 shares during the last quarter. Finally, APEIRON CAPITAL Ltd grew its stake in ON by 35.9% during the first quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company's stock worth $43,882,000 after buying an additional 264,000 shares during the last quarter. 36.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on ONON shares. Needham & Company LLC reaffirmed a "buy" rating and set a $62.00 price objective on shares of ON in a research note on Tuesday, August 12th. Evercore ISI upped their target price on shares of ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Piper Sandler reiterated an "overweight" rating on shares of ON in a research report on Tuesday, May 13th. Robert W. Baird upped their target price on shares of ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Finally, Raymond James Financial lowered shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price on the stock. in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

ON Trading Up 1.0%

NYSE ONON traded up $0.46 during trading hours on Monday, hitting $45.05. The company's stock had a trading volume of 4,561,879 shares, compared to its average volume of 7,780,656. The stock has a fifty day moving average of $49.53 and a 200 day moving average of $49.62. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The firm has a market capitalization of $28.37 billion, a P/E ratio of 100.12, a PEG ratio of 4.97 and a beta of 2.23. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

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.