River Street Advisors LLC Makes New Investment in On Holding AG $ONON

River Street Advisors LLC acquired a new stake in shares of On Holding AG (NYSE:ONON) during the second quarter, Holdings Channel reports. The firm acquired 3,650 shares of the company’s stock, valued at approximately $190,000.

A number of other hedge funds have also modified their holdings of the stock. TCTC Holdings LLC boosted its stake in ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after buying an additional 315 shares in the last quarter. Montag A & Associates Inc. bought a new position in shares of ON during the first quarter valued at $26,000. Smartleaf Asset Management LLC boosted its stake in shares of ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after purchasing an additional 916 shares in the last quarter. Ramirez Asset Management Inc. bought a new stake in shares of ON in the 1st quarter worth about $44,000. Finally, MorganRosel Wealth Management LLC bought a new position in ON during the 1st quarter valued at about $48,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Up 3.5%

Shares of NYSE:ONON opened at $42.38 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The stock has a market cap of $26.68 billion, a price-to-earnings ratio of 94.17, a P/E/G ratio of 5.29 and a beta of 2.19. The company has a 50 day moving average of $45.51 and a 200-day moving average of $48.86. On Holding AG has a one year low of $34.59 and a one year high of $64.05.

Wall Street Analyst Weigh In

ONON has been the topic of several research analyst reports. Raymond James Financial cut shares of ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 price objective on the stock. in a research note on Tuesday, July 22nd. UBS Group raised their price target on ON from $75.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Telsey Advisory Group reissued an “outperform” rating and issued a $65.00 price objective on shares of ON in a research note on Thursday, August 7th. Morgan Stanley raised their target price on ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Finally, Barclays upped their price target on shares of ON from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and an average target price of $64.20.

About ON

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.