Sun Sep 15 15:22:54 UTC 2024: ## Federated Hermes Reduces Stake in On Holding AG (ONON)
**New York, NY** – Federated Hermes Inc., a prominent institutional investor, reduced its stake in On Holding AG (NYSE:ONON) by 2.2% during the second quarter of 2024, according to the company’s latest Form 13F filing. This move reflects a slight shift in investment strategy for the company, which now holds 1,284,236 shares, representing approximately 0.20% of On Holding’s total worth.
While Federated Hermes decreased its holdings, other institutional investors have shown interest in the company. WD Rutherford LLC acquired a new position in On Holding during the first quarter, while Asset Dedication LLC and Orion Capital Management LLC increased their stakes in the second and first quarters, respectively.
On Holding AG, a global sports product developer and distributor, has recently attracted positive attention from analysts. Stifel Nicolaus, Barclays, TD Cowen, and Raymond James have all increased their price targets for the company, with a consensus target price of $46.16. While Hsbc Global Res lowered their rating to “Hold,” the majority of analysts remain optimistic about the company’s prospects.
On Holding AG’s stock opened at $48.63 on Friday, with a market capitalization of $30.62 billion. Analysts remain bullish on the company’s future, considering its focus on performance sports and growing global reach.
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