On Holding AG (NYSE:ONON) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its position in shares of On Holding AG (NYSE:ONON) by 2.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,278,404 shares of the company’s stock after selling 28,710 shares during the quarter. Federated Hermes Inc.’s holdings in ON were worth $70,018,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Legacy Bridge LLC acquired a new position in shares of ON in the 4th quarter valued at $43,000. Arcadia Investment Management Corp MI acquired a new stake in shares of ON during the fourth quarter valued at about $53,000. VisionPoint Advisory Group LLC purchased a new stake in shares of ON in the 4th quarter valued at approximately $65,000. Blue Trust Inc. lifted its holdings in shares of ON by 148.8% in the 4th quarter. Blue Trust Inc. now owns 1,316 shares of the company’s stock worth $66,000 after acquiring an additional 787 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of ON by 1,446.0% during the 4th quarter. Allworth Financial LP now owns 1,546 shares of the company’s stock worth $91,000 after purchasing an additional 1,446 shares during the period. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Trading Up 5.1 %

ONON stock opened at $39.56 on Monday. The company has a market capitalization of $24.91 billion, a P/E ratio of 92.00, a PEG ratio of 1.02 and a beta of 2.32. The business has a 50 day simple moving average of $50.36 and a 200-day simple moving average of $52.44. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05.

Analysts Set New Price Targets

ONON has been the topic of a number of research reports. TD Cowen upped their price target on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Citigroup assumed coverage on shares of ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 target price on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 target price on shares of ON in a research note on Tuesday, April 1st. Williams Trading lifted their price objective on ON from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Barclays boosted their price objective on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.45.

ON Company 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.