Fmr LLC Has $1.58 Billion Stake in On Holding AG (NYSE:ONON)

Fmr LLC raised its position in shares of On Holding AG (NYSE:ONON) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,875,965 shares of the company’s stock after acquiring an additional 462,738 shares during the period. Fmr LLC owned approximately 4.59% of ON worth $1,581,537,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in ON in the 4th quarter valued at approximately $164,574,000. Arrowstreet Capital Limited Partnership bought a new position in ON during the fourth quarter worth $78,799,000. Axiom Investors LLC DE acquired a new position in ON during the 4th quarter valued at $39,320,000. Raymond James Financial Inc. bought a new stake in ON in the 4th quarter valued at $28,575,000. Finally, Alliancebernstein L.P. grew its position in ON by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock worth $951,808,000 after purchasing an additional 471,805 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

ON Trading Up 5.1 %

Shares of NYSE ONON opened at $39.56 on Monday. On Holding AG has a 1-year low of $29.84 and a 1-year high of $64.05. The company has a 50-day moving average of $50.36 and a two-hundred day moving average of $52.44. The company has a market cap of $24.91 billion, a PE ratio of 92.00, a P/E/G ratio of 1.02 and a beta of 2.32.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays increased their target price on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group lowered ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a report on Wednesday, February 12th. Morgan Stanley upped their target price on ON from $62.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. UBS Group boosted their price target on shares of ON from $65.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, TD Cowen increased their price target on shares of 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 assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.