Raymond James Financial Inc. Buys New Shares in On Holding AG (NYSE:ONON)

Raymond James Financial Inc. bought 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 firm bought 521,722 shares of the company’s stock, valued at approximately $28,575,000. Raymond James Financial Inc. owned approximately 0.08% of ON at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC boosted its position in ON by 189.9% during the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after purchasing an additional 471,323 shares during the period. Lord Abbett & CO. LLC boosted 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 worth $29,834,000 after purchasing an additional 459,157 shares during the period. Jennison Associates LLC boosted its position in ON by 27.4% during the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock worth $112,259,000 after purchasing an additional 440,685 shares during the period. Allspring Global Investments Holdings LLC boosted its position in ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after purchasing an additional 349,789 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in ON during the third quarter worth $10,263,000. 36.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ONON. Morgan Stanley lifted their target price on ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. 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. Williams Trading lifted their target price on ON from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Barclays lifted their target price on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, Citigroup initiated coverage on ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target for the company. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $61.90.

ON Stock Up 0.1 %

ON stock opened at $46.41 on Friday. The stock has a market cap of $29.22 billion, a PE ratio of 107.93, a P/E/G ratio of 1.02 and a beta of 2.35. The business’s 50-day moving average price is $54.14 and its two-hundred day moving average price is $52.58. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05.

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.