Global Retirement Partners LLC Has $1.26 Million Stock Position in On Holding AG (NYSE:ONON)

Global Retirement Partners LLC boosted its stake in shares of On Holding AG (NYSE:ONON) by 337.3% during the fourth quarter, Holdings Channel reports. The fund owned 22,964 shares of the company’s stock after acquiring an additional 17,713 shares during the period. Global Retirement Partners LLC’s holdings in ON were worth $1,258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Apollon Wealth Management LLC raised its position in shares of ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after acquiring an additional 6,808 shares during the last quarter. RB Capital Management LLC raised its holdings in ON by 214.8% during the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after purchasing an additional 15,303 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in ON by 34.1% during the 4th 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. Y Intercept Hong Kong Ltd boosted its stake in shares of ON by 584.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after purchasing an additional 71,436 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of ON during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ONON has been the subject of a number of recent research reports. UBS Group reissued a “buy” rating and set a $63.00 price target on shares of ON in a research note on Friday, December 27th. Stifel Nicolaus increased their price target on ON from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 price target on shares of ON in a research report on Wednesday, January 15th. KeyCorp upped their price objective on ON from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Bank of America began coverage on ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price on the stock. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ON currently has an average rating of “Moderate Buy” and an average price target of $59.73.

ON Stock Performance

Shares of ON stock opened at $48.23 on Friday. On Holding AG has a 52-week low of $27.37 and a 52-week high of $64.05. The stock has a market cap of $30.37 billion, a PE ratio of 112.16, a PEG ratio of 1.04 and a beta of 2.30. The firm has a 50-day moving average of $56.37 and a 200-day moving average of $51.91.

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.