Northwest & Ethical Investments L.P. Acquires New Position in On Holding AG (NYSE:ONON)

Northwest & Ethical Investments L.P. acquired a new stake in On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,738 shares of the company’s stock, valued at approximately $1,136,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ONON. Raymond James Financial Inc. bought a new stake in ON in the fourth quarter valued at about $28,575,000. Cerity Partners LLC increased its holdings in ON by 189.9% in the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after buying an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of 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 purchasing an additional 459,157 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of 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 purchasing an additional 440,685 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of ON by 34.1% during the fourth 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 last quarter. 36.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ONON has been the subject of several recent research reports. Williams Trading upped their target price on ON from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus upped their target price on ON from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Bank of America initiated coverage on ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price for the company. HSBC raised ON from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Tuesday, March 11th. Finally, Barclays upped their target price on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $61.90.

ON Price Performance

ONON 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 price-to-earnings-growth 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 business has a 50 day moving average price of $53.05 and a two-hundred day moving average price of $52.57.

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.