Alliancebernstein L.P. Increases Stake in On Holding AG (NYSE:ONON)

Alliancebernstein L.P. raised its position in On Holding AG (NYSE:ONON) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,378,277 shares of the company’s stock after acquiring an additional 471,805 shares during the period. Alliancebernstein L.P. owned approximately 2.76% of ON worth $951,808,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA purchased a new stake in ON in the 3rd quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the 4th quarter valued at approximately $30,000. Legacy Bridge LLC purchased a new stake in shares of ON in the fourth quarter valued at approximately $43,000. Arcadia Investment Management Corp MI acquired a new position in ON during the fourth quarter worth $53,000. Finally, VisionPoint Advisory Group LLC purchased a new position in ON in the fourth quarter worth $65,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Down 4.1 %

Shares of ON stock opened at $44.10 on Monday. The firm has a market cap of $27.76 billion, a PE ratio of 102.55, a P/E/G ratio of 1.02 and a beta of 2.35. On Holding AG has a fifty-two week low of $29.84 and a fifty-two week high of $64.05. The business’s fifty day moving average is $52.13 and its two-hundred day moving average is $52.67.

Analyst Ratings Changes

A number of research firms have recently weighed in on ONON. HSBC raised shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Tuesday, March 11th. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a report on Wednesday, February 12th. Morgan Stanley boosted their price target on ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Stifel Nicolaus raised their price objective on ON from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Barclays boosted their target price on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $61.90.

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.