On Holding AG (NYSE:ONON) Shares Sold by Mitchell Capital Management Co.

Mitchell Capital Management Co. reduced its position in shares of On Holding AG (NYSE:ONON) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 87,252 shares of the company’s stock after selling 1,055 shares during the quarter. Mitchell Capital Management Co.’s holdings in ON were worth $4,779,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ONON. Cerity Partners LLC lifted its position in shares of ON by 189.9% during the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after purchasing an additional 471,323 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after buying an additional 459,157 shares during the last quarter. Jennison Associates LLC increased its stake in shares of ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock worth $112,259,000 after buying an additional 440,685 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after buying an additional 349,789 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of ON in the third quarter worth $10,263,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ONON. Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Citigroup began coverage on shares of ON in a research note on Wednesday, December 18th. They set a “neutral” rating and a $65.00 target price for the company. Stifel Nicolaus boosted their target price on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Bank of America began coverage on shares of ON in a research note on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price for the company. Finally, The Goldman Sachs Group lowered shares of 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. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.73.

ON Stock Up 3.8 %

ONON stock opened at $48.45 on Friday. The company has a market capitalization of $30.51 billion, a P/E ratio of 112.69, a PEG ratio of 1.02 and a beta of 2.30. The company has a 50-day simple moving average of $55.58 and a 200 day simple moving average of $52.25. On Holding AG has a fifty-two week low of $27.37 and a fifty-two week high of $64.05.

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.