On Holding AG $ONON Shares Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. boosted its stake in On Holding AG (NYSE:ONON) by 95.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 46,801 shares of the company’s stock after acquiring an additional 22,883 shares during the quarter. Fox Run Management L.L.C.’s holdings in ON were worth $1,982,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. TD Asset Management Inc grew its position in shares of ON by 8.7% in the third quarter. TD Asset Management Inc now owns 402,400 shares of the company’s stock valued at $17,042,000 after purchasing an additional 32,200 shares during the period. Citigroup Inc. raised its position in shares of ON by 3,643.7% during the 3rd quarter. Citigroup Inc. now owns 607,720 shares of the company’s stock worth $25,737,000 after purchasing an additional 591,487 shares during the last quarter. Stevens Capital Management LP lifted its stake in ON by 21.2% in the 3rd quarter. Stevens Capital Management LP now owns 5,475 shares of the company’s stock valued at $232,000 after buying an additional 959 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in ON by 20.5% in the 3rd quarter. Y.D. More Investments Ltd now owns 62,550 shares of the company’s stock worth $2,649,000 after buying an additional 10,650 shares during the last quarter. Finally, Calton & Associates Inc. acquired a new stake in ON in the 3rd quarter worth about $394,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen raised their target price on ON from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $31.00 target price on shares of ON in a research note on Wednesday, November 12th. Guggenheim raised shares of ON to a “strong-buy” rating in a report on Wednesday, December 10th. Stifel Nicolaus set a $60.00 price target on shares of ON in a research note on Wednesday, January 28th. Finally, The Goldman Sachs Group boosted their price target on shares of ON from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Three 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.86.

ON Trading Down 1.3%

Shares of ONON opened at $46.80 on Wednesday. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $46.50 and a 200 day moving average price of $44.44. On Holding AG has a 12-month low of $34.38 and a 12-month high of $61.29. The firm has a market capitalization of $29.39 billion, a P/E ratio of 60.78, a P/E/G ratio of 1.42 and a beta of 2.15.

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.