Whittier Trust Co. of Nevada Inc. Increases Stake in On Holding AG (NYSE:ONON)

Whittier Trust Co. of Nevada Inc. raised its position in On Holding AG (NYSE:ONON) by 69.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,409 shares of the company’s stock after purchasing an additional 2,632 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in ON were worth $351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its holdings in ON by 74.0% in the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock valued at $877,000 after purchasing an additional 6,808 shares in the last quarter. RB Capital Management LLC lifted its holdings in ON by 214.8% in the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock valued at $1,125,000 after purchasing an additional 15,303 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after acquiring an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the 4th quarter worth $30,000. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of ON by 584.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after acquiring an additional 71,436 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ONON. Morgan Stanley raised their target price on ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Hsbc Global Res raised ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group downgraded ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Wednesday, February 12th. Barclays raised their target price on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Citigroup began coverage on ON in a research report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ON has a consensus rating of “Buy” and a consensus price target of $61.90.

ON Price Performance

NYSE ONON opened at $46.22 on Monday. The company has a market cap of $29.10 billion, a P/E ratio of 107.49, a P/E/G ratio of 1.02 and a beta of 2.35. The stock has a 50-day moving average of $53.05 and a two-hundred day moving average of $52.66. On Holding AG has a 1-year low of $29.84 and a 1-year high of $64.05.

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.