FIL Ltd Lowers Stock Holdings in On Holding AG (NYSE:ONON)

FIL Ltd reduced its position in shares of On Holding AG (NYSE:ONON - Free Report) by 40.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 177,776 shares of the company's stock after selling 119,482 shares during the quarter. FIL Ltd's holdings in ON were worth $9,737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ONON. Strategic Financial Concepts LLC purchased a new stake in ON in the 4th quarter worth approximately $30,000. Legacy Bridge LLC bought a new position in shares of ON in the 4th quarter worth approximately $43,000. Arcadia Investment Management Corp MI bought a new stake in shares of ON during the fourth quarter valued at approximately $53,000. VisionPoint Advisory Group LLC purchased a new stake in ON in the fourth quarter worth $65,000. Finally, Blue Trust Inc. lifted its position in ON by 148.8% during the fourth quarter. Blue Trust Inc. now owns 1,316 shares of the company's stock valued at $66,000 after buying an additional 787 shares during the period. Institutional investors own 36.39% of the company's stock.

ON Trading Up 1.3 %

Shares of NYSE:ONON traded up $0.56 during trading on Thursday, reaching $42.31. The company's stock had a trading volume of 855,163 shares, compared to its average volume of 4,632,382. The stock has a market capitalization of $26.64 billion, a PE ratio of 97.95, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32. On Holding AG has a 12 month low of $29.84 and a 12 month high of $64.05. The firm's 50 day simple moving average is $46.78 and its two-hundred day simple moving average is $51.82.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ONON. Bank of America began coverage on shares of ON in a research note on Tuesday, January 7th. They issued a "buy" rating and a $73.00 price target for the company. UBS Group raised their price objective on ON from $65.00 to $73.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 target price on shares of ON in a research note on Tuesday, April 1st. Barclays increased their price objective on shares of ON from $63.00 to $64.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Finally, Williams Trading upped their target price on shares of ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, ON currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

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.