Lord Abbett & CO. LLC Decreases Stock Position in On Holding AG (NYSE:ONON)

Lord Abbett & CO. LLC trimmed its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 582,845 shares of the company's stock after selling 12,056 shares during the period. Lord Abbett & CO. LLC owned 0.09% of ON worth $31,922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Legacy Bridge LLC purchased a new stake in shares of ON in the fourth quarter valued at approximately $43,000. Bernard Wealth Management Corp. acquired a new position in shares of ON during the fourth quarter worth about $44,000. Arcadia Investment Management Corp MI acquired a new stake in ON in the fourth quarter valued at approximately $53,000. VisionPoint Advisory Group LLC purchased a new position in ON in the fourth quarter worth approximately $65,000. Finally, Blue Trust Inc. increased its position in shares of ON by 148.8% in the 4th quarter. Blue Trust Inc. now owns 1,316 shares of the company's stock valued at $66,000 after purchasing an additional 787 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Stock Performance

Shares of NYSE:ONON traded down $0.39 during trading on Thursday, reaching $47.72. 3,002,056 shares of the stock were exchanged, compared to its average volume of 4,684,399. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05. The firm's 50-day moving average price is $45.19 and its 200 day moving average price is $51.42. The firm has a market cap of $30.05 billion, a price-to-earnings ratio of 110.98, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ONON. Williams Trading raised their price target on ON from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group cut ON from a "buy" rating to a "neutral" rating and set a $57.00 target price for the company. in a research note on Wednesday, February 12th. Citigroup upgraded shares of ON from a "neutral" rating to a "buy" rating and dropped their price target for the company from $65.00 to $60.00 in a research note on Monday. Barclays boosted their price objective on shares of ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley lifted their price target on shares of ON from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $58.77.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.