TD Asset Management Inc Acquires 32,200 Shares of On Holding AG $ONON

TD Asset Management Inc raised its stake in shares of On Holding AG (NYSE:ONON) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 402,400 shares of the company’s stock after purchasing an additional 32,200 shares during the quarter. TD Asset Management Inc owned 0.06% of ON worth $17,042,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Winslow Capital Management LLC acquired a new position in ON during the second quarter worth $248,113,000. Sands Capital Management LLC bought a new stake in shares of ON during the 2nd quarter valued at $240,177,000. Bamco Inc. NY raised its position in shares of ON by 3.3% in the 2nd quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock valued at $215,486,000 after acquiring an additional 132,756 shares during the period. American Century Companies Inc. boosted its holdings in shares of ON by 29.4% in the second quarter. American Century Companies Inc. now owns 3,692,568 shares of the company’s stock valued at $192,198,000 after buying an additional 839,754 shares during the period. Finally, Norges Bank bought a new position in ON during the 2nd quarter worth about $138,641,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Down 2.3%

Shares of NYSE ONON opened at $46.50 on Monday. The stock’s fifty day moving average is $46.41 and its 200 day moving average is $44.42. The stock has a market capitalization of $29.20 billion, a P/E ratio of 60.39, a PEG ratio of 1.39 and a beta of 2.14. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. On Holding AG has a 52 week low of $34.38 and a 52 week high of $61.29.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ONON. Evercore reduced their price objective on ON from $68.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. The Goldman Sachs Group lifted their target price on ON from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Bank of America upped their price target on shares of ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Guggenheim raised ON to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Williams Trading downgraded shares of ON from a “buy” rating to a “hold” rating and reduced their target price for the stock from $55.00 to $47.00 in a report on Thursday, January 8th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, ON currently has an average rating of “Moderate Buy” and an average price target of $59.86.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.