CIBC Private Wealth Group LLC Buys 1,375 Shares of On Holding AG (NYSE:ONON)

CIBC Private Wealth Group LLC grew its position in shares of On Holding AG (NYSE:ONON) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,241 shares of the company’s stock after buying an additional 1,375 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in ON were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in ON in the fourth quarter valued at about $164,574,000. Arrowstreet Capital Limited Partnership bought a new position in shares of ON in the 4th quarter worth approximately $78,799,000. Raymond James Financial Inc. purchased a new position in shares of ON in the fourth quarter worth approximately $28,575,000. Lord Abbett & CO. LLC grew its position in ON by 338.3% during the third 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 during the period. Finally, Jennison Associates LLC increased its holdings in ON by 27.4% during the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after buying an additional 440,685 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ONON. Needham & Company LLC dropped their price target on shares of ON from $64.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday. Barclays lifted their target price on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Stifel Nicolaus raised their price objective on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group cut ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a research report on Wednesday, February 12th. Finally, Bank of America started coverage on shares of ON in a research note on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price on the stock. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.45.

ON Price Performance

NYSE:ONON opened at $39.56 on Friday. The company has a market cap of $24.91 billion, a price-to-earnings ratio of 92.00, a PEG ratio of 1.02 and a beta of 2.35. On Holding AG has a 1 year low of $29.84 and a 1 year high of $64.05. The stock’s 50 day simple moving average is $50.36 and its two-hundred day simple moving average is $52.40.

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.