Fox Run Management L.L.C. Boosts Stake in On Holding AG $ONON

Fox Run Management L.L.C. grew its holdings in On Holding AG (NYSE:ONON) by 95.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,801 shares of the company’s stock after buying an additional 22,883 shares during the period. Fox Run Management L.L.C.’s holdings in ON were worth $1,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Asset Management One Co. Ltd. lifted its position in ON by 1.0% in the second quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock valued at $1,298,000 after buying an additional 243 shares during the last quarter. Lido Advisors LLC increased its position in shares of ON by 1.2% during the second quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock valued at $1,236,000 after acquiring an additional 285 shares during the last quarter. Parsons Capital Management Inc. RI raised its stake in shares of ON by 4.3% in the 3rd quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company’s stock valued at $307,000 after acquiring an additional 300 shares during the period. Sterling Investment Counsel LLC lifted its holdings in shares of ON by 6.5% in the 3rd quarter. Sterling Investment Counsel LLC now owns 6,125 shares of the company’s stock worth $259,000 after acquiring an additional 375 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of ON by 11.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,859 shares of the company’s stock worth $201,000 after purchasing an additional 405 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Price Performance

ONON stock opened at $46.80 on Wednesday. The business’s 50-day moving average is $46.50 and its two-hundred day moving average is $44.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. 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. On Holding AG has a 1 year low of $34.38 and a 1 year high of $61.29.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BTIG Research reissued a “buy” rating and issued a $70.00 target price on shares of ON in a research report on Thursday, January 29th. Evercore cut their price objective on ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. JPMorgan Chase & Co. raised their target price on ON from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Williams Trading downgraded ON from a “buy” rating to a “hold” rating and dropped their target price for the company from $55.00 to $47.00 in a research report on Thursday, January 8th. Finally, TD Cowen increased their price target on shares of ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.86.

ON 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.