FIL Ltd Has $9.74 Million Holdings in On Holding AG (NYSE:ONON)

FIL Ltd lessened its stake in On Holding AG (NYSE:ONON) by 40.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,776 shares of the company’s stock after selling 119,482 shares during the quarter. FIL Ltd’s holdings in ON were worth $9,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC bought a new stake in shares of ON in the 4th quarter valued at about $30,000. Legacy Bridge LLC bought a new stake in ON in the fourth quarter valued at approximately $43,000. Arcadia Investment Management Corp MI acquired a new stake in ON in the fourth quarter worth $53,000. VisionPoint Advisory Group LLC bought a new position in shares of ON during the fourth quarter worth $65,000. Finally, Blue Trust Inc. grew its holdings in shares of ON by 148.8% in the 4th quarter. Blue Trust Inc. now owns 1,316 shares of the company’s stock valued at $66,000 after buying an additional 787 shares during the period. Institutional investors own 36.39% of the company’s stock.

ON Price Performance

Shares of ONON opened at $43.51 on Friday. The firm has a market capitalization of $27.40 billion, a PE ratio of 101.19, a PEG ratio of 1.02 and a beta of 2.32. The company’s 50-day moving average is $48.03 and its 200-day moving average is $52.06. On Holding AG has a fifty-two week low of $29.84 and a fifty-two week high of $64.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lowered ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research report on Wednesday, February 12th. TD Cowen raised their target price on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Tuesday, March 11th. Needham & Company LLC dropped their price objective on shares of ON from $64.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Finally, Piper Sandler cut their price objective on shares of ON from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.