Wellington Shields Capital Management LLC Sells 3,700 Shares of On Holding AG (NYSE:ONON)

Wellington Shields Capital Management LLC decreased its stake in On Holding AG (NYSE:ONON) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,000 shares of the company’s stock after selling 3,700 shares during the period. Wellington Shields Capital Management LLC’s holdings in ON were worth $1,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ONON. Private Trust Co. NA bought a new stake in ON during the third quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of ON during the 3rd quarter worth about $29,000. Strategic Financial Concepts LLC bought a new stake in shares of ON in the 4th quarter valued at about $30,000. Legacy Bridge LLC acquired a new stake in ON in the 4th quarter valued at about $43,000. Finally, Arcadia Investment Management Corp MI bought a new position in ON during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ONON shares. HSBC upgraded ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Tuesday. Morgan Stanley raised their price target on ON from $62.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of ON in a report on Tuesday, March 4th. Williams Trading raised 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. Finally, Citigroup began coverage on shares of ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $61.90.

ON Stock Performance

Shares of NYSE ONON opened at $46.42 on Friday. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05. The stock’s fifty day moving average is $54.32 and its 200 day moving average is $52.62. The stock has a market capitalization of $29.23 billion, a P/E ratio of 107.94, a PEG ratio of 1.02 and a beta of 2.35.

ON Company 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.