On Holding AG $ONON Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its holdings in On Holding AG by 1.0%, selling 16,311 shares and retaining approximately 1,584,338 shares valued at $69.6 million.
• A significant portion, 36.39%, of On Holding AG's stock is owned by hedge funds and institutional investors, with several firms increasing their positions in the company during the first quarter.
• Wall Street analysts have a generally positive outlook on On Holding AG, with multiple firms raising their price targets and the stock receiving mostly Buy ratings, resulting in a consensus target price of $64.20.

Price T Rowe Associates Inc. MD cut its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,584,338 shares of the company's stock after selling 16,311 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.25% of ON worth $69,585,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ONON. Montag A & Associates Inc. purchased a new position in shares of ON during the 1st quarter worth approximately $26,000. TCTC Holdings LLC raised its stake in shares of ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after buying an additional 315 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of ON during the 4th quarter worth approximately $32,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of ON during the 1st quarter worth approximately $32,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of ON during the 4th quarter worth approximately $44,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Trading Up 1.0%

Shares of ONON stock traded up $0.46 during mid-day trading on Friday, hitting $45.05. 4,561,879 shares of the company's stock were exchanged, compared to its average volume of 5,446,689. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The stock has a 50-day simple moving average of $49.84 and a two-hundred day simple moving average of $49.78. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The stock has a market cap of $28.37 billion, a price-to-earnings ratio of 100.12, a PEG ratio of 4.99 and a beta of 2.24.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. KeyCorp increased their target price on ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Morgan Stanley increased their target price on ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Evercore ISI increased their target price on ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. UBS Group upped their price target on ON from $75.00 to $79.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, Jefferies Financial Group set a $40.00 price target on ON and gave the stock an "underperform" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.20.

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.