On Holding AG (NYSE:ONON) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its stake in On Holding AG (NYSE:ONON) by 19.1% in the 4th quarter, Holdings Channel reports. The firm owned 16,006 shares of the company’s stock after buying an additional 2,565 shares during the quarter. Park Avenue Securities LLC’s holdings in ON were worth $877,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ONON. Tsfg LLC grew its stake in ON by 143.6% during the 4th quarter. Tsfg LLC now owns 3,338 shares of the company’s stock valued at $183,000 after purchasing an additional 1,968 shares in the last quarter. Watts Gwilliam & Co. LLC grew its position in shares of ON by 3.7% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 64,830 shares of the company’s stock valued at $3,584,000 after buying an additional 2,330 shares during the last quarter. Diversified Trust Co acquired a new stake in ON during the fourth quarter worth about $995,000. Central Pacific Bank Trust Division lifted its holdings in ON by 12.7% in the fourth quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company’s stock worth $566,000 after acquiring an additional 1,161 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in ON by 96.5% in the third quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock valued at $5,104,000 after acquiring an additional 49,995 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ONON. Truist Financial boosted their price target on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Bank of America initiated coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target on the stock. Barclays upped their price objective on ON from $47.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group lifted their target price on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.36.

ON Stock Up 3.5 %

ONON stock opened at $60.01 on Wednesday. The company has a market capitalization of $37.78 billion, a price-to-earnings ratio of 139.56, a P/E/G ratio of 1.19 and a beta of 2.30. On Holding AG has a 12 month low of $26.03 and a 12 month high of $60.60. The firm has a 50 day moving average of $56.11 and a two-hundred day moving average of $49.06.

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, 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.