On Holding AG $ONON Position Increased by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC raised its stake in On Holding AG (NYSE:ONON) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 693,779 shares of the company’s stock after buying an additional 16,345 shares during the period. ON makes up about 2.8% of Villere ST Denis J & Co. LLC’s investment portfolio, making the stock its 12th largest holding. Villere ST Denis J & Co. LLC’s holdings in ON were worth $29,382,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of ON during the second quarter worth approximately $138,641,000. Bessemer Group Inc. purchased a new stake in ON in the 2nd quarter worth approximately $43,344,000. Great Point Wealth Advisors LLC purchased a new stake in ON in the 3rd quarter worth approximately $1,607,000. Allianz Asset Management GmbH acquired a new stake in shares of ON during the 2nd quarter valued at $3,321,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of ON by 102.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 38,978 shares of the company’s stock valued at $2,029,000 after acquiring an additional 19,730 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Up 1.5%

Shares of ONON stock opened at $45.92 on Tuesday. The stock’s 50 day simple moving average is $46.73 and its 200 day simple moving average is $44.87. On Holding AG has a twelve month low of $34.38 and a twelve month high of $61.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The company has a market capitalization of $28.83 billion, a price-to-earnings ratio of 59.63, a PEG ratio of 1.36 and a beta of 2.15.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ONON shares. Raymond James Financial cut their price objective on ON from $66.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 21st. Guggenheim raised ON to a “strong-buy” rating in a research note on Wednesday, December 10th. Zacks Research cut ON from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Morgan Stanley increased their price objective on ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Finally, Truist Financial reduced their target price on shares of ON from $69.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.86.

ON Company Profile

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.