Lord Abbett & CO. LLC Has $29.83 Million Stake in On Holding AG (NYSE:ONON)

Lord Abbett & CO. LLC increased its position in On Holding AG (NYSE:ONON) by 338.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 594,901 shares of the company’s stock after buying an additional 459,157 shares during the period. Lord Abbett & CO. LLC owned 0.09% of ON worth $29,834,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Ameritas Advisory Services LLC raised its holdings in ON by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after buying an additional 300 shares in the last quarter. Capital Advisors Inc. OK raised its stake in shares of ON by 5.1% in the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock valued at $310,000 after acquiring an additional 301 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after purchasing an additional 325 shares during the last quarter. Asset Dedication LLC boosted its position in ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares during the period. Finally, Sage Capital Advisors llc grew its holdings in ON by 0.3% during the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock valued at $5,008,000 after purchasing an additional 328 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Stock Down 0.5 %

NYSE:ONON opened at $57.30 on Monday. The firm has a market capitalization of $36.08 billion, a PE ratio of 133.26 and a beta of 2.30. On Holding AG has a 12-month low of $25.78 and a 12-month high of $60.12. The firm has a 50-day moving average price of $52.63 and a 200 day moving average price of $46.28.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of analyst reports. Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $58.00 to $63.00 in a research note on Thursday, November 21st. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Piper Sandler raised their price target on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Barclays boosted their price objective on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

ON Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.