Price T Rowe Associates Inc. MD Decreases Stock Position in On Holding AG $ONON

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

A number of other institutional investors have also modified their holdings of ONON. Invesco Ltd. increased its holdings in shares of ON by 4.0% in the 4th 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 period. MML Investors Services LLC grew its position in ON by 11.6% in the 4th quarter. MML Investors Services LLC now owns 48,190 shares of the company's stock valued at $2,639,000 after buying an additional 4,990 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in ON by 13.5% in the 4th quarter. OneDigital Investment Advisors LLC now owns 5,738 shares of the company's stock valued at $314,000 after buying an additional 682 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in ON in the 4th quarter valued at $230,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in ON in the 4th quarter valued at $5,942,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on ONON. Evercore ISI lifted their price objective on shares of ON from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Needham & Company LLC reiterated a "buy" rating and issued a $62.00 price objective on shares of ON in a research report on Tuesday, August 12th. KeyCorp lifted their price objective on shares of ON from $60.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. UBS Group lifted their price objective on shares of ON from $75.00 to $79.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Finally, Barclays lifted their price objective on shares of ON from $68.00 to $69.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

ON Price Performance

Shares of NYSE ONON traded up $0.46 during trading on Friday, hitting $45.05. 4,561,879 shares of the company were exchanged, compared to its average volume of 7,780,656. The company has a market cap of $28.37 billion, a price-to-earnings ratio of 100.12, a PEG ratio of 4.97 and a beta of 2.23. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05. The firm's fifty day moving average price is $49.69 and its 200 day moving average price is $49.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00.

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.