Northwest & Ethical Investments L.P. Takes $1.14 Million Position in On Holding AG (NYSE:ONON)

Northwest & Ethical Investments L.P. acquired a new stake in shares of On Holding AG (NYSE:ONON) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,738 shares of the company’s stock, valued at approximately $1,136,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ONON. Raymond James Financial Inc. acquired a new stake in shares of ON during the 4th quarter valued at $28,575,000. Cerity Partners LLC lifted its position in shares of ON by 189.9% during the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after acquiring an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC lifted its position 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 acquiring an additional 459,157 shares during the last quarter. Jennison Associates LLC lifted its position in shares of ON by 27.4% during the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after acquiring an additional 440,685 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in ON by 34.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after purchasing an additional 349,789 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Price Performance

ON stock opened at $46.22 on Friday. The company has a market capitalization of $29.10 billion, a price-to-earnings ratio of 107.49, a PEG ratio of 1.02 and a beta of 2.35. On Holding AG has a one year low of $29.84 and a one year high of $64.05. The company’s fifty day moving average price is $53.05 and its two-hundred day moving average price is $52.57.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research note on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating and set a $64.00 target price on shares of ON in a research note on Tuesday, March 4th. KeyCorp reissued an “overweight” rating and set a $68.00 target price on shares of ON in a research note on Wednesday, March 5th. Citigroup assumed coverage on shares of ON in a research note on Wednesday, December 18th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $67.00 target price on shares of ON in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $61.90.

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, 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.