Polen Capital Management LLC Cuts Stock Position in On Holding AG (NYSE:ONON)

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

A number of other institutional investors also recently bought and sold shares of the stock. Capital Advisors Inc. OK boosted its stake in ON by 3.2% in the 4th quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock worth $350,000 after purchasing an additional 200 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in ON by 2.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after acquiring an additional 259 shares during the period. Atria Investments Inc lifted its stake in ON by 6.6% during the 4th quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock valued at $302,000 after acquiring an additional 341 shares during the period. J.W. Cole Advisors Inc. lifted its stake in ON by 3.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 10,708 shares of the company’s stock valued at $586,000 after acquiring an additional 373 shares during the period. Finally, Harbour Investments Inc. lifted its stake in ON by 24.1% during the 4th quarter. Harbour Investments Inc. now owns 1,928 shares of the company’s stock valued at $106,000 after acquiring an additional 375 shares during the period. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Up 0.1 %

ON stock opened at $46.41 on Monday. On Holding AG has a 52-week low of $29.84 and a 52-week high of $64.05. The firm has a market capitalization of $29.22 billion, a price-to-earnings ratio of 107.93, a PEG ratio of 1.02 and a beta of 2.35. The company has a fifty day simple moving average of $53.94 and a 200-day simple moving average of $52.66.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ONON. 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 price objective for the company. Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Barclays lifted their price objective on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 target price on shares of ON in a research note on Tuesday, March 4th. Finally, Morgan Stanley boosted their target price on shares of ON from $62.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $61.90.

About ON

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.