On Holding AG $ONON Shares Purchased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in On Holding AG (NYSE:ONON) by 1.0%, now holding 3,395,611 shares valued at approximately $149 million.
• Several hedge funds have also increased their positions in ONON, with notable increases including a 151.2% increase by Kestra Private Wealth Services LLC and a 73.1% increase by Citigroup Inc.
• Analyst ratings for ONON are generally positive, with a consensus rating of "Moderate Buy" and an average price target of $64.20, reflecting strong bullish sentiment.

T. Rowe Price Investment Management Inc. increased its position in On Holding AG (NYSE:ONON - Free Report) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,395,611 shares of the company's stock after buying an additional 34,120 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.54% of ON worth $149,136,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. CWM LLC lifted its position in shares of ON by 22.2% in the 1st quarter. CWM LLC now owns 1,259 shares of the company's stock worth $55,000 after buying an additional 229 shares during the last quarter. Sage Capital Advisors llc lifted its stake in ON by 0.3% in the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock valued at $4,406,000 after acquiring an additional 269 shares during the last quarter. TCTC Holdings LLC lifted 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. Merit Financial Group LLC lifted its stake in shares of ON by 2.9% in the first quarter. Merit Financial Group LLC now owns 12,275 shares of the company's stock worth $539,000 after buying an additional 348 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of ON by 53.4% in the first quarter. Parallel Advisors LLC now owns 1,292 shares of the company's stock worth $57,000 after buying an additional 450 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

ONON traded down $0.08 during trading on Wednesday, reaching $45.10. The company's stock had a trading volume of 929,278 shares, compared to its average volume of 5,446,296. The company has a market cap of $28.40 billion, a price-to-earnings ratio of 100.44, a PEG ratio of 2.64 and a beta of 2.24. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $50.12 and a two-hundred day simple moving average of $49.88. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05.

Wall Street Analysts Forecast Growth

ONON has been the topic of a number of research reports. UBS Group upped their target price on shares of ON from $75.00 to $79.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Barclays upped their price target on ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Telsey Advisory Group reissued an "outperform" rating and set a $65.00 price objective on shares of ON in a report on Thursday, August 7th. Evercore ISI lifted their price objective on ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus boosted their price target on ON from $57.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.20.

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.