Janney Capital Management LLC Reduces Position in On Holding AG $ONON

Janney Capital Management LLC reduced its holdings in On Holding AG (NYSE:ONON) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,771 shares of the company’s stock after selling 1,140 shares during the period. Janney Capital Management LLC’s holdings in ON were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of ONON. Montag A & Associates Inc. purchased a new position in ON in the 1st quarter worth approximately $26,000. TCTC Holdings LLC lifted its position in ON by 118.4% during the first quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock worth $26,000 after buying an additional 315 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new position in ON during the first quarter worth $32,000. Smartleaf Asset Management LLC grew its holdings in ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after buying an additional 916 shares in the last quarter. Finally, Ramirez Asset Management Inc. purchased a new stake in ON in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Performance

NYSE:ONON opened at $42.31 on Wednesday. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The company has a 50 day moving average price of $45.87 and a 200 day moving average price of $48.95. The stock has a market capitalization of $26.64 billion, a P/E ratio of 94.02, a PEG ratio of 5.63 and a beta of 2.23.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ONON shares. Barclays boosted their price target on shares of ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Jefferies Financial Group set a $40.00 target price on shares of ON and gave the company an “underperform” rating in a report on Wednesday, August 13th. UBS Group raised their price target on shares of ON from $75.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Raymond James Financial cut ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 price objective on the stock. in a report on Tuesday, July 22nd. Finally, Morgan Stanley raised their target price on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.20.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.