J. Safra Sarasin Holding AG Grows Holdings in On Holding AG (NYSE:ONON)

J. Safra Sarasin Holding AG lifted its position in shares of On Holding AG (NYSE:ONON) by 40.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,202 shares of the company’s stock after acquiring an additional 8,384 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in ON were worth $1,599,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. State Street Corp grew its holdings in ON by 1.8% in the third quarter. State Street Corp now owns 228,847 shares of the company’s stock valued at $11,477,000 after purchasing an additional 4,152 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in ON in the 3rd quarter valued at $259,000. Lord Abbett & CO. LLC increased its holdings in ON by 338.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after acquiring an additional 459,157 shares in the last quarter. Principal Financial Group Inc. raised its position in ON by 96.5% during the third quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock worth $5,104,000 after acquiring an additional 49,995 shares during the period. Finally, Central Pacific Bank Trust Division lifted its holdings in ON by 12.7% during the fourth quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company’s stock valued at $566,000 after purchasing an additional 1,161 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ONON stock opened at $42.71 on Wednesday. The firm has a market cap of $26.89 billion, a P/E ratio of 99.32, a P/E/G ratio of 1.02 and a beta of 2.32. On Holding AG has a one year low of $29.84 and a one year high of $64.05. The firm’s 50 day moving average price is $46.03 and its 200-day moving average price is $51.68.

Wall Street Analyst Weigh In

ONON has been the subject of a number of research reports. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Wednesday, February 12th. UBS Group increased their target price on ON from $65.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Morgan Stanley lifted their price target on ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. KeyCorp reissued an “overweight” rating and issued a $68.00 price objective on shares of ON in a research note on Wednesday, March 5th. Finally, Barclays lifted their target price on shares of ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

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.