American Century Companies Inc. Has $125.30 Million Holdings in On Holding AG (NYSE:ONON)

Key Points

• American Century Companies Inc. has reduced its holdings in On Holding AG by 34.5%, owning approximately 2,852,814 shares worth $125.3 million as per the latest SEC filing.
• Several institutional investors have increased their stakes, including Legal & General Group Plc which raised its stake by an impressive 11,518.3%.
• The stock is currently rated as a Moderate Buy by analysts, with a consensus price target of $64.20.

American Century Companies Inc. cut its position in On Holding AG (NYSE:ONON - Free Report) by 34.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,852,814 shares of the company's stock after selling 1,503,346 shares during the quarter. American Century Companies Inc. owned about 0.45% of ON worth $125,296,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ONON. Invesco Ltd. lifted its stake in ON by 4.0% in the fourth quarter. Invesco Ltd. now owns 41,287 shares of the company's stock valued at $2,261,000 after acquiring an additional 1,571 shares during the last quarter. Legal & General Group Plc lifted its stake in ON by 11,518.3% in the fourth quarter. Legal & General Group Plc now owns 54,722 shares of the company's stock valued at $2,997,000 after acquiring an additional 54,251 shares during the last quarter. Townsquare Capital LLC lifted its stake in ON by 6.7% in the fourth quarter. Townsquare Capital LLC now owns 12,951 shares of the company's stock valued at $709,000 after acquiring an additional 814 shares during the last quarter. XTX Topco Ltd acquired a new stake in ON in the fourth quarter valued at $592,000. Finally, Gabelli Funds LLC lifted its stake in ON by 29.2% in the fourth quarter. Gabelli Funds LLC now owns 47,800 shares of the company's stock valued at $2,618,000 after acquiring an additional 10,800 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Trading Up 2.6%

ONON stock opened at $45.35 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.18 and a current ratio of 2.53. The company's 50-day simple moving average is $51.44 and its 200 day simple moving average is $50.56. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The company has a market capitalization of $28.55 billion, a PE ratio of 100.78, a price-to-earnings-growth ratio of 2.49 and a beta of 2.24.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ONON. Citigroup upgraded shares of ON from a "neutral" rating to a "buy" rating and cut their price target for the company from $65.00 to $60.00 in a research note on Monday, April 28th. Jefferies Financial Group set a $40.00 price target on shares of ON and gave the company an "underperform" rating in a research note on Wednesday. Stifel Nicolaus increased their price target on shares of ON from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley reiterated an "overweight" rating and issued a $65.00 price objective (up from $62.00) on shares of ON in a report on Wednesday. Finally, UBS Group set a $79.00 price objective on shares of ON and gave the company a "buy" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.20.

About ON

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.

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