Bank of Montreal Can Grows Stake in On Holding AG (NYSE:ONON)

Bank of Montreal Can lifted its stake in shares of On Holding AG (NYSE:ONON) by 27.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,320 shares of the company’s stock after purchasing an additional 9,895 shares during the period. Bank of Montreal Can’s holdings in ON were worth $2,368,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ONON. Kayne Anderson Rudnick Investment Management LLC boosted its position in ON by 100.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after buying an additional 642,894 shares during the period. Forte Capital LLC ADV bought a new stake in shares of ON in the third quarter worth about $742,000. Coronation Fund Managers Ltd. increased its holdings in ON by 248.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock valued at $6,010,000 after purchasing an additional 110,467 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in ON in the 3rd quarter worth approximately $658,000. Finally, Principal Financial Group Inc. grew its position in shares of ON by 96.5% in the 3rd quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock worth $5,104,000 after buying an additional 49,995 shares during the last quarter. Institutional investors own 33.11% of the company’s stock.

ON Trading Up 0.6 %

Shares of ONON opened at $59.35 on Friday. The firm has a fifty day simple moving average of $51.83 and a two-hundred day simple moving average of $45.46. The firm has a market cap of $37.37 billion, a PE ratio of 138.03 and a beta of 2.30. On Holding AG has a 1-year low of $25.78 and a 1-year high of $59.84.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ONON. HSBC initiated coverage on shares of ON in a research report on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price for the company. Bank of America raised ON from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $21.00 to $55.00 in a research note on Monday, September 23rd. Stifel Nicolaus raised their price objective on ON from $45.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley upped their target price on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, Robert W. Baird lifted their price target on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.05.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.