E Fund Management Co. Ltd. Raises Stock Holdings in On Holding AG (NYSE:ONON)

E Fund Management Co. Ltd. boosted its stake in On Holding AG (NYSE:ONON) by 28.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,193 shares of the company’s stock after buying an additional 4,195 shares during the period. E Fund Management Co. Ltd.’s holdings in ON were worth $1,051,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Private Trust Co. NA purchased a new stake in ON during the third quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in ON during the third quarter worth about $29,000. Strategic Financial Concepts LLC purchased a new stake in ON during the fourth quarter worth about $30,000. Legacy Bridge LLC purchased a new stake in ON during the fourth quarter worth about $43,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in ON during the fourth quarter worth about $53,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Down 5.7 %

Shares of ON stock opened at $46.70 on Friday. On Holding AG has a 52-week low of $27.37 and a 52-week high of $64.05. The company’s 50-day simple moving average is $55.07 and its 200-day simple moving average is $52.48. The firm has a market cap of $29.40 billion, a price-to-earnings ratio of 108.61, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial boosted their price objective on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. KeyCorp reissued an “overweight” rating and set a $68.00 price objective on shares of ON in a research report on Wednesday. Stifel Nicolaus boosted their price objective on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Morgan Stanley boosted their price objective on ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Barclays boosted their price objective on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.62.

ON Company 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.