K.J. Harrison & Partners Inc Reduces Stock Position in On Holding AG (NYSE:ONON)

K.J. Harrison & Partners Inc lessened its position in On Holding AG (NYSE:ONON) by 30.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,000 shares of the company’s stock after selling 15,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in ON were worth $1,938,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Apollon Wealth Management LLC increased its holdings in ON by 74.0% during the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock valued at $877,000 after purchasing an additional 6,808 shares during the period. RB Capital Management LLC grew its position in shares of ON by 214.8% in the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after buying an additional 15,303 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after buying an additional 349,789 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of ON during the fourth quarter valued at approximately $30,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after acquiring an additional 71,436 shares during the period. 36.39% of the stock is owned by institutional investors.

ON Trading Up 2.9 %

ONON stock opened at $49.82 on Thursday. The stock has a market capitalization of $31.37 billion, a PE ratio of 115.87, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The stock’s 50 day simple moving average is $55.92 and its 200 day simple moving average is $52.23. On Holding AG has a 12-month low of $27.37 and a 12-month high of $64.05.

Analyst Ratings Changes

A number of brokerages have issued reports on ONON. Williams Trading raised shares of ON from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Citigroup initiated coverage on shares of ON in a research report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price target on the stock. Bank of America assumed coverage on shares of ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective for the company. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, November 13th. Finally, 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. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ON presently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

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.