Royal Bank of Canada Grows Stock Position in On Holding AG (NYSE:ONON)

Royal Bank of Canada grew its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 21.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 388,095 shares of the company's stock after buying an additional 67,566 shares during the quarter. Royal Bank of Canada owned 0.06% of ON worth $21,256,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of ON by 1.6% in the 4th quarter. FMR LLC now owns 28,875,965 shares of the company's stock worth $1,581,537,000 after purchasing an additional 462,738 shares during the period. Alliancebernstein L.P. boosted its stake in ON by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock worth $951,808,000 after buying an additional 471,805 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of ON by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company's stock worth $184,109,000 after purchasing an additional 18,752 shares during the period. Norges Bank purchased a new stake in shares of ON in the fourth quarter worth approximately $164,574,000. Finally, Jennison Associates LLC raised its holdings in shares of ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock worth $112,259,000 after buying an additional 440,685 shares during the period. Institutional investors own 36.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ONON shares. HSBC raised ON from a "hold" rating to a "buy" rating and set a $58.00 price objective on the stock in a research report on Tuesday, March 11th. Jefferies Financial Group began coverage on shares of ON in a report on Tuesday, April 1st. They set a "hold" rating and a $44.00 price objective for the company. Williams Trading boosted their price objective on shares of ON from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $65.00 target price on shares of ON in a research report on Tuesday, May 13th. Finally, Robert W. Baird boosted their price target on ON from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $62.45.

ON Stock Performance

ONON stock traded up $0.40 during midday trading on Friday, reaching $59.24. The stock had a trading volume of 1,019,972 shares, compared to its average volume of 4,586,066. The firm has a fifty day simple moving average of $48.41 and a two-hundred day simple moving average of $52.35. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The stock has a market cap of $37.30 billion, a PE ratio of 138.05, a P/E/G ratio of 1.02 and a beta of 2.30.

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.