Banque Pictet & Cie SA Increases Holdings in On Holding AG (NYSE:ONON)

Banque Pictet & Cie SA grew its holdings in On Holding AG (NYSE:ONON) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 233,975 shares of the company’s stock after buying an additional 1,950 shares during the quarter. Banque Pictet & Cie SA’s holdings in ON were worth $12,815,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC lifted its stake in ON by 74.0% in 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 period. RB Capital Management LLC raised its holdings in ON by 214.8% in 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $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% during 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 in the last quarter. Finally, Forte Capital LLC ADV purchased a new position in shares of ON during the third quarter valued at about $742,000. 36.39% of the stock is currently owned by institutional investors.

ON Stock Performance

ONON opened at $52.13 on Friday. The company’s 50-day simple moving average is $57.15 and its two-hundred day simple moving average is $51.40. On Holding AG has a 52-week low of $27.37 and a 52-week high of $64.05. The stock has a market capitalization of $32.82 billion, a P/E ratio of 121.23, a P/E/G ratio of 1.20 and a beta of 2.30.

Analyst Ratings Changes

Several analysts have commented on the stock. Robert W. Baird raised their price objective on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Raymond James upgraded ON from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $58.00 to $63.00 in a research report on Thursday, November 21st. Bank of America initiated coverage on ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target on the stock. Morgan Stanley raised their price objective on ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus upped their target price on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Five 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’s stock. According to MarketBeat.com, ON has a consensus rating of “Moderate Buy” and an average price target of $59.73.

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.