California Public Employees Retirement System Cuts Stake in On Holding AG (NYSE:ONON)

California Public Employees Retirement System trimmed its position in shares of On Holding AG (NYSE:ONON - Free Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 386,565 shares of the company's stock after selling 17,936 shares during the period. California Public Employees Retirement System owned 0.06% of ON worth $21,172,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ONON. Legacy Bridge LLC purchased a new stake in ON during the 4th quarter valued at approximately $43,000. Arcadia Investment Management Corp MI bought a new stake in ON in the 4th quarter valued at $53,000. VisionPoint Advisory Group LLC purchased a new stake in ON in the 4th quarter worth $65,000. Blue Trust Inc. boosted its holdings in shares of ON by 148.8% during 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. Finally, Allworth Financial LP increased its holdings in shares of ON by 1,446.0% in the fourth quarter. Allworth Financial LP now owns 1,546 shares of the company's stock worth $91,000 after purchasing an additional 1,446 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Stock Performance

ON stock traded down $1.03 during midday trading on Tuesday, hitting $39.94. 2,866,622 shares of the company's stock were exchanged, compared to its average volume of 4,559,933. On Holding AG has a 12 month low of $29.84 and a 12 month high of $64.05. The company has a market cap of $25.15 billion, a PE ratio of 92.52, a P/E/G ratio of 1.02 and a beta of 2.32. The firm has a 50-day moving average of $49.98 and a two-hundred day moving average of $52.37.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ONON. Williams Trading lifted their price objective on ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. KeyCorp reaffirmed an "overweight" rating and set a $68.00 price target on shares of ON in a research note on Wednesday, March 5th. The Goldman Sachs Group downgraded shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 target price on the stock. in a report on Wednesday, February 12th. HSBC upgraded ON from a "hold" rating to a "buy" rating and set a $58.00 price target for the company in a research report on Tuesday, March 11th. Finally, TD Cowen upped their price objective on ON from $65.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ON has a consensus rating of "Moderate Buy" and a consensus price target of $60.45.

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, 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.