Jones Financial Companies Lllp Grows Holdings in On Holding AG (NYSE:ONON)

Jones Financial Companies Lllp raised its stake in On Holding AG (NYSE:ONON) by 33.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,181 shares of the company’s stock after acquiring an additional 4,287 shares during the quarter. Jones Financial Companies Lllp’s holdings in ON were worth $941,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Cerity Partners LLC boosted its stake 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 acquiring an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake 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 acquiring an additional 459,157 shares during the last quarter. Jennison Associates LLC boosted its stake 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 acquiring an additional 440,685 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake 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 acquiring an additional 349,789 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in ON in the third quarter valued at about $10,263,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

ONON stock opened at $46.70 on Friday. On Holding AG has a one year low of $27.37 and a one year high of $64.05. The stock has a market cap of $29.40 billion, a PE ratio of 108.61, a P/E/G ratio of 1.02 and a beta of 2.35. The firm has a 50 day simple moving average of $54.90 and a two-hundred day simple moving average of $52.51.

Analysts Set New Price Targets

ONON has been the topic of a number of research analyst reports. Barclays boosted their target price on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group lowered shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research report on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of ON in a research report on Tuesday, March 4th. Robert W. Baird boosted 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. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 price target on shares of ON in a research report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.62.

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.