Bank Julius Baer & Co. Ltd Zurich Buys Shares of 73,206 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 the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 73,206 shares of the company’s stock, valued at approximately $4,425,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA acquired a new stake in ON in the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of ON during the third quarter worth $29,000. Legacy Bridge LLC acquired a new position in shares of ON during the fourth quarter worth $43,000. Arcadia Investment Management Corp MI acquired a new position in shares of ON during the fourth quarter worth $53,000. Finally, VisionPoint Advisory Group LLC acquired a new position in shares of ON during the fourth quarter worth $65,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Performance

Shares of ONON stock opened at $46.70 on Monday. On Holding AG has a 52-week low of $27.37 and a 52-week high of $64.05. The company has a 50-day simple moving average of $54.90 and a two-hundred day simple moving average of $52.59. The company 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ONON shares. 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 report on Wednesday, February 12th. UBS Group lifted their price target on shares of ON from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. TD Cowen boosted their target price on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley boosted their target price on shares of ON from $62.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.62.

About ON

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.