Vontobel Holding Ltd. grew its position in On Holding AG (NYSE:ONON - Free Report) by 41.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,180 shares of the company's stock after acquiring an additional 13,566 shares during the period. Vontobel Holding Ltd.'s holdings in ON were worth $2,028,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ONON. Park Square Financial Group LLC acquired a new position in ON in the 4th quarter worth about $32,000. MassMutual Private Wealth & Trust FSB acquired a new position in shares of ON during the 1st quarter worth approximately $32,000. Bernard Wealth Management Corp. purchased a new position in shares of ON during the 4th quarter valued at approximately $44,000. MorganRosel Wealth Management LLC acquired a new stake in ON in the 1st quarter valued at $48,000. Finally, Point72 Hong Kong Ltd purchased a new stake in ON in the 4th quarter worth $69,000. 36.39% of the stock is owned by hedge funds and other institutional investors.
ON Stock Up 1.0%
Shares of ON stock traded up $0.55 during trading hours on Friday, reaching $54.25. 3,203,823 shares of the company were exchanged, compared to its average volume of 4,663,080. The firm has a market cap of $34.16 billion, a PE ratio of 77.49, a PEG ratio of 3.07 and a beta of 2.25. 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 1 year low of $34.59 and a 1 year high of $64.05. The stock's fifty day moving average is $54.40 and its 200 day moving average is $52.00.
Analysts Set New Price Targets
Several brokerages have recently issued reports on ONON. HSBC upgraded shares of ON from a "hold" rating to a "buy" rating and set a $58.00 target price on the stock in a research report on Tuesday, March 11th. Stifel Nicolaus boosted their price objective on ON from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. KeyCorp lifted their price target on ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Jefferies Financial Group assumed coverage on ON in a research note on Tuesday, April 1st. They issued a "hold" rating and a $44.00 price objective for the company. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $63.85.
Check Out Our Latest Stock Report on ONON
ON Company Profile
(
Free Report)
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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