Park Avenue Securities LLC Boosts Holdings in On Holding AG (NYSE:ONON)

Park Avenue Securities LLC grew its holdings in shares of On Holding AG (NYSE:ONON) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,006 shares of the company’s stock after purchasing an additional 2,565 shares during the quarter. Park Avenue Securities LLC’s holdings in ON were worth $877,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ONON. Fred Alger Management LLC increased its holdings in shares of ON by 22.8% during the 2nd quarter. Fred Alger Management LLC now owns 1,152,941 shares of the company’s stock worth $44,734,000 after buying an additional 213,815 shares during the last quarter. Cerity Partners LLC grew its stake in ON by 189.9% during the 3rd 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 in the last quarter. AXA S.A. increased its holdings in ON by 0.4% during the 2nd quarter. AXA S.A. now owns 605,081 shares of the company’s stock worth $23,477,000 after purchasing an additional 2,259 shares during the period. Lord Abbett & CO. LLC grew its holdings in ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after acquiring an additional 459,157 shares in the last quarter. Finally, Manchester Global Management UK Ltd lifted its holdings in ON by 1.2% during the 2nd quarter. Manchester Global Management UK Ltd now owns 580,605 shares of the company’s stock worth $22,527,000 after buying an additional 6,855 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Citigroup assumed coverage on shares of ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. Bank of America began coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price objective for the company. Stifel Nicolaus increased their target price on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird upped their price target on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.36.

ON Trading Up 3.5 %

NYSE ONON opened at $60.01 on Wednesday. The business’s 50-day moving average price is $56.11 and its 200 day moving average price is $49.06. On Holding AG has a twelve month low of $26.03 and a twelve month high of $60.60. The company has a market capitalization of $37.78 billion, a PE ratio of 139.56, a price-to-earnings-growth ratio of 1.19 and a beta of 2.30.

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.