On Holding AG (NYSE:ONON) Stock Holdings Decreased by First National Bank of Hutchinson

First National Bank of Hutchinson cut its holdings in On Holding AG (NYSE:ONON - Free Report) by 51.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,006 shares of the company's stock after selling 5,211 shares during the period. First National Bank of Hutchinson's holdings in ON were worth $220,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ONON. FMR LLC raised its stake in ON by 1.6% during the fourth quarter. FMR LLC now owns 28,875,965 shares of the company's stock worth $1,581,537,000 after purchasing an additional 462,738 shares during the period. Alliancebernstein L.P. increased its holdings in shares of ON by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock worth $951,808,000 after buying an additional 471,805 shares during the last quarter. Jennison Associates LLC raised its position in shares of ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company's stock worth $212,943,000 after buying an additional 2,798,794 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in ON by 0.6% in 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 during the last quarter. Finally, Norges Bank purchased a new stake in ON during the fourth quarter valued at about $164,574,000. Hedge funds and other institutional investors own 36.39% of the company's stock.

Wall Street Analyst Weigh In

ONON has been the topic of a number of research reports. Needham & Company LLC raised their price objective on ON from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Evercore ISI increased their target price on shares of ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Citigroup raised shares of ON from a "neutral" rating to a "buy" rating and reduced their price target for the company from $65.00 to $60.00 in a research report on Monday, April 28th. Robert W. Baird boosted their price objective on shares of ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Finally, Cowen reissued a "buy" rating on shares of ON in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

ON Stock Down 3.2%

ONON traded down $1.66 on Thursday, reaching $49.99. The company's stock had a trading volume of 5,291,951 shares, compared to its average volume of 5,528,924. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05. The business's 50 day moving average is $55.18 and its 200 day moving average is $51.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18. The stock has a market cap of $31.47 billion, a price-to-earnings ratio of 73.77, a price-to-earnings-growth ratio of 2.89 and a beta of 2.25.

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.