Franklin Resources Inc. Grows Position in On Holding AG (NYSE:ONON)

Franklin Resources Inc. grew its position in shares of On Holding AG (NYSE:ONON) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,017,842 shares of the company’s stock after acquiring an additional 26,595 shares during the quarter. Franklin Resources Inc. owned 0.16% of ON worth $55,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC increased 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 valued at $877,000 after acquiring an additional 6,808 shares during the last quarter. RB Capital Management LLC raised its stake in shares of 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 period. Allspring Global Investments Holdings LLC boosted its holdings 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 buying an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in ON during the fourth quarter valued at about $30,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after buying an additional 71,436 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ONON. UBS Group increased their target price on shares of ON from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Williams Trading boosted their target price on ON from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barclays increased their price target on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Jefferies Financial Group began coverage on shares of ON in a report on Tuesday. They set a “hold” rating and a $44.00 price objective on the stock. Finally, KeyCorp reiterated an “overweight” rating and issued a $68.00 target price on shares of ON in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.45.

ON Stock Up 5.1 %

Shares of NYSE ONON opened at $39.56 on Friday. The stock’s 50-day simple moving average is $50.36 and its two-hundred day simple moving average is $52.40. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05. The firm has a market capitalization of $24.91 billion, a P/E ratio of 92.00, a P/E/G ratio of 1.02 and a beta of 2.35.

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.