TD Asset Management Inc Grows Stake in On Holding AG $ONON

TD Asset Management Inc lifted its holdings in On Holding AG (NYSE:ONON) by 41.6% in the second quarter, Holdings Channel reports. The firm owned 370,200 shares of the company’s stock after buying an additional 108,800 shares during the period. TD Asset Management Inc’s holdings in ON were worth $19,269,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. 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 worth $212,943,000 after acquiring an additional 2,798,794 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of ON by 13.9% in the 1st 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 last quarter. Nuveen LLC acquired a new stake in ON in the 1st quarter worth approximately $102,850,000. Robeco Institutional Asset Management B.V. acquired a new stake in ON in the 2nd quarter worth approximately $41,208,000. Finally, Aberdeen Group plc purchased a new stake in ON during the 2nd quarter worth approximately $39,395,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Price Performance

NYSE:ONON opened at $41.91 on Friday. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The firm has a market cap of $26.39 billion, a price-to-earnings ratio of 93.14, a PEG ratio of 5.22 and a beta of 2.19. The firm’s fifty day moving average is $44.18 and its two-hundred day moving average is $48.60.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ONON. Jefferies Financial Group set a $40.00 price objective on shares of ON and gave the stock an “underperform” rating in a research note on Wednesday, August 13th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 price target on shares of ON in a research report on Thursday, August 7th. UBS Group boosted their price target on ON from $75.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. TD Cowen reduced their price objective on ON from $63.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, ON has a consensus rating of “Moderate Buy” and an average target price of $63.65.

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.