J.W. Cole Advisors Inc. Increases Stake in On Holding AG (NYSE:ONON)

J.W. Cole Advisors Inc. boosted its stake in shares of On Holding AG (NYSE:ONON) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,708 shares of the company’s stock after acquiring an additional 373 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in ON were worth $586,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Cerity Partners LLC grew 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 purchasing an additional 471,323 shares during the period. Lord Abbett & CO. LLC grew its holdings in ON by 338.3% in 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 period. Jennison Associates LLC grew its holdings in ON by 27.4% in 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 period. Allspring Global Investments Holdings LLC grew its holdings in ON by 34.1% in 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 period. Finally, Zurich Insurance Group Ltd FI acquired a new stake in ON in the third quarter valued at approximately $10,263,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Down 2.5 %

NYSE:ONON opened at $52.04 on Thursday. On Holding AG has a 52 week low of $27.37 and a 52 week high of $64.05. The company has a market capitalization of $32.77 billion, a P/E ratio of 121.03, a P/E/G ratio of 1.04 and a beta of 2.30. The stock’s fifty day moving average is $56.68 and its two-hundred day moving average is $51.84.

Analyst Ratings Changes

ONON has been the topic of several research analyst reports. Bank of America initiated coverage on ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective on the stock. Barclays lifted their price target on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Stifel Nicolaus lifted their price target on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. TD Cowen lifted 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. Finally, The Goldman Sachs Group lowered ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Wednesday, February 12th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.73.

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.