IFP Advisors Inc Boosts Stake in On Holding AG (NYSE:ONON)

IFP Advisors Inc boosted its stake in shares of On Holding AG (NYSE:ONON) by 17.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,662 shares of the company’s stock after buying an additional 3,553 shares during the quarter. IFP Advisors Inc’s holdings in ON were worth $1,296,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of ONON. Cerity Partners LLC boosted its position in shares of ON by 189.9% in the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after purchasing an additional 471,323 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after buying an additional 459,157 shares in the last quarter. Jennison Associates LLC boosted its holdings in ON by 27.4% in the 4th 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. Allspring Global Investments Holdings LLC increased its stake in ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after buying an additional 349,789 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in ON during the third quarter valued at about $10,263,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

ON stock opened at $49.82 on Thursday. On Holding AG has a 1-year low of $27.37 and a 1-year high of $64.05. The company’s 50-day moving average is $55.92 and its 200 day moving average is $52.23. The firm has a market capitalization of $31.37 billion, a P/E ratio of 115.87, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. KeyCorp upped their price objective on ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Robert W. Baird upped their price target on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Citigroup initiated coverage on shares of ON in a research report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ON has an average rating of “Moderate Buy” and a consensus target price of $59.73.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.