Triangle Securities Wealth Management Takes $782,000 Position in On Holding AG $ONON

Triangle Securities Wealth Management acquired a new stake in On Holding AG (NYSE:ONON) in the second quarter, HoldingsChannel.com reports. The firm acquired 15,030 shares of the company’s stock, valued at approximately $782,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Alliancebernstein L.P. grew its position in shares of ON by 13.9% in the first quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after purchasing an additional 2,416,534 shares during the period. Jennison Associates LLC boosted its holdings in ON by 136.6% in the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock valued at $212,943,000 after acquiring an additional 2,798,794 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in ON by 1.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,395,611 shares of the company’s stock valued at $149,136,000 after acquiring an additional 34,120 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in ON by 8.3% in the first quarter. 1832 Asset Management L.P. now owns 2,344,700 shares of the company’s stock valued at $102,979,000 after acquiring an additional 178,750 shares during the last quarter. Finally, Nuveen LLC acquired a new position in ON in the first quarter valued at $102,850,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ONON. Raymond James Financial cut ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 target price on the stock. in a report on Tuesday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 target price on shares of ON in a report on Tuesday, August 12th. Morgan Stanley lifted their target price on ON from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Jefferies Financial Group set a $40.00 target price on ON and gave the company an “underperform” rating in a report on Wednesday, August 13th. Finally, Barclays boosted their price objective on ON from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $64.20.

ON Trading Up 2.6%

Shares of NYSE ONON opened at $45.00 on Friday. The stock’s 50 day moving average price is $47.24 and its two-hundred day moving average price is $49.12. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The stock has a market capitalization of $28.33 billion, a P/E ratio of 100.00, a PEG ratio of 5.66 and a beta of 2.23. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.