National Bank of Canada FI Grows Stake in On Holding AG (NYSE:ONON)

National Bank of Canada FI grew its holdings in shares of On Holding AG (NYSE:ONON) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,738 shares of the company’s stock after purchasing an additional 6,137 shares during the period. National Bank of Canada FI’s holdings in ON were worth $8,046,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new position in ON during the 4th quarter valued at approximately $30,000. Legacy Bridge LLC acquired a new position in shares of ON in the 4th quarter valued at $43,000. Arcadia Investment Management Corp MI purchased a new position in ON in the 4th quarter worth $53,000. VisionPoint Advisory Group LLC acquired a new stake in ON during the 4th quarter worth about $65,000. Finally, Blue Trust Inc. grew its stake in ON by 148.8% during the 4th quarter. Blue Trust Inc. now owns 1,316 shares of the company’s stock valued at $66,000 after purchasing an additional 787 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Up 5.1 %

Shares of NYSE ONON opened at $39.56 on Friday. On Holding AG has a 52-week low of $29.84 and a 52-week high of $64.05. The company’s 50-day simple moving average is $50.36 and its 200-day simple moving average is $52.40. The firm has a market cap of $24.91 billion, a price-to-earnings ratio of 92.00, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32.

Analyst Ratings Changes

Several research analysts have recently issued reports on ONON shares. Barclays raised their price objective on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Telsey Advisory Group restated an “outperform” rating and set a $67.00 price objective on shares of ON in a research note on Tuesday, April 1st. Citigroup initiated coverage on shares of ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective on the stock. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research report on Wednesday, February 12th. Finally, TD Cowen increased their price target on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.45.

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.