California First Leasing Corp Decreases Stock Holdings in On Holding AG (NYSE:ONON)

California First Leasing Corp reduced its position in shares of On Holding AG (NYSE:ONON - Free Report) by 37.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,100 shares of the company's stock after selling 38,000 shares during the period. California First Leasing Corp's holdings in ON were worth $2,771,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in ON by 1.6% during the 4th quarter. FMR LLC now owns 28,875,965 shares of the company's stock valued at $1,581,537,000 after purchasing an additional 462,738 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of ON by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock valued at $951,808,000 after buying an additional 471,805 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of ON by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company's stock valued at $184,109,000 after acquiring an additional 18,752 shares in the last quarter. Norges Bank purchased a new stake in ON in the fourth quarter worth $164,574,000. Finally, Voloridge Investment Management LLC boosted its holdings in ON by 10.7% in the fourth quarter. Voloridge Investment Management LLC now owns 2,026,890 shares of the company's stock valued at $111,013,000 after acquiring an additional 196,270 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

Shares of ONON opened at $54.25 on Monday. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The company has a market capitalization of $34.16 billion, a P/E ratio of 77.49, a price-to-earnings-growth ratio of 3.07 and a beta of 2.25. The firm has a 50 day moving average of $54.40 and a 200 day moving average of $51.96. The company has a quick ratio of 2.18, a current ratio of 2.80 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. KeyCorp upped their price objective on shares of ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Citigroup upgraded ON from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $65.00 to $60.00 in a report on Monday, April 28th. HSBC upgraded ON from a "hold" rating to a "buy" rating and set a $58.00 target price for the company in a research note on Tuesday, March 11th. Cowen reaffirmed a "buy" rating on shares of ON in a research note on Wednesday, May 14th. Finally, Hsbc Global Res upgraded ON from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $63.85.

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.

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