Bank Julius Baer & Co. Ltd Zurich Makes New $4.43 Million Investment in On Holding AG (NYSE:ONON)

Bank Julius Baer & Co. Ltd Zurich bought a new stake in On Holding AG (NYSE:ONON) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 73,206 shares of the company’s stock, valued at approximately $4,425,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. E Fund Management Co. Ltd. boosted its stake in ON by 28.0% in the fourth quarter. E Fund Management Co. Ltd. now owns 19,193 shares of the company’s stock valued at $1,051,000 after acquiring an additional 4,195 shares during the last quarter. Raymond James Financial Inc. purchased a new position in ON in the fourth quarter valued at about $28,575,000. Atria Investments Inc boosted its stake in ON by 6.6% in the fourth quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock valued at $302,000 after acquiring an additional 341 shares during the last quarter. Assetmark Inc. boosted its stake in ON by 68.6% in the fourth quarter. Assetmark Inc. now owns 5,395 shares of the company’s stock valued at $295,000 after acquiring an additional 2,195 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its stake in shares of ON by 14.1% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 270,749 shares of the company’s stock valued at $14,829,000 after buying an additional 33,384 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ONON. Williams Trading upped their price target on shares of ON from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Stifel Nicolaus upped their price target on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Barclays upped their price target on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. UBS Group upped their price target on shares of ON from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, Robert W. Baird upped their price target on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Four 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.62.

ON Price Performance

Shares of NYSE:ONON opened at $46.70 on Monday. The company’s fifty day moving average price is $54.90 and its 200-day moving average price is $52.59. The firm has a market capitalization of $29.40 billion, a price-to-earnings ratio of 108.61, a PEG ratio of 1.02 and a beta of 2.35. On Holding AG has a one year low of $27.37 and a one year high of $64.05.

ON Company 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.