On Holding AG (NYSE:ONON) Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC decreased its position in shares of On Holding AG (NYSE:ONON) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,383 shares of the company’s stock after selling 17,135 shares during the quarter. Polen Capital Management LLC’s holdings in ON were worth $15,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in ON in the fourth quarter valued at about $28,575,000. Cerity Partners LLC lifted its position in ON by 189.9% in the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after buying an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after buying an additional 459,157 shares during the last quarter. Jennison Associates LLC lifted its position in shares of ON by 27.4% during the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock worth $112,259,000 after purchasing an additional 440,685 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position 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 worth $76,213,000 after purchasing an additional 349,789 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Trading Up 0.1 %

Shares of ONON opened at $46.41 on Monday. The firm has a market cap of $29.22 billion, a PE ratio of 107.93, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The company’s 50 day simple moving average is $53.94 and its 200-day simple moving average is $52.66. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ONON. Raymond James raised shares of ON from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $58.00 to $63.00 in a research report on Thursday, November 21st. Bank of America began coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target on the stock. Williams Trading increased their price target on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research report on Wednesday, February 12th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $67.00 target price on shares of ON in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $61.90.

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.