Prudential PLC Has $1.64 Million Holdings in On Holding AG (NYSE:ONON)

Prudential PLC boosted its position in shares of On Holding AG (NYSE:ONON) by 97.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,961 shares of the company’s stock after acquiring an additional 14,770 shares during the quarter. Prudential PLC’s holdings in ON were worth $1,641,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ONON. Norges Bank bought a new stake in shares of ON in the 4th quarter valued at about $164,574,000. Arrowstreet Capital Limited Partnership bought a new stake in ON in the fourth quarter valued at approximately $78,799,000. Axiom Investors LLC DE bought a new position in shares of ON during the 4th quarter worth approximately $39,320,000. Raymond James Financial Inc. acquired a new position in shares of ON during the 4th quarter worth approximately $28,575,000. Finally, Alliancebernstein L.P. raised its stake in ON by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock valued at $951,808,000 after acquiring an additional 471,805 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ONON. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 price objective on shares of ON in a report on Tuesday, April 1st. UBS Group raised their price objective on shares of ON from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Barclays boosted their price objective on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. KeyCorp reissued an “overweight” rating and set a $68.00 price target on shares of ON in a report on Wednesday, March 5th. Finally, Citigroup began coverage on ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have 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 $60.45.

ON Trading Up 5.1 %

Shares of NYSE ONON opened at $39.56 on Monday. The stock has a 50-day moving average price of $50.36 and a two-hundred day moving average price of $52.44. On Holding AG has a 12 month low of $29.84 and a 12 month high of $64.05. The company has a market cap of $24.91 billion, a price-to-earnings ratio of 92.00, a PEG ratio of 1.02 and a beta of 2.32.

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.