Citigroup Inc. Cuts Stock Holdings in On Holding AG (NYSE:ONON)

Citigroup Inc. trimmed its stake in On Holding AG (NYSE:ONON) by 85.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,981 shares of the company’s stock after selling 666,830 shares during the period. Citigroup Inc.’s holdings in ON were worth $5,816,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after buying an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in ON in the third quarter worth approximately $29,000. Quarry LP bought a new position in ON during the second quarter valued at approximately $32,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of ON during the third quarter worth approximately $50,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ONON has been the subject of a number of research reports. Raymond James raised shares of ON from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 price objective on shares of ON in a research note on Tuesday, November 12th. Evercore ISI raised ON to an “overweight” rating and boosted their target price for the company from $43.00 to $47.00 in a research note on Monday, August 12th. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price target on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy 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 $56.05.

ON Trading Up 0.7 %

NYSE ONON opened at $58.33 on Monday. The stock has a market cap of $36.73 billion, a PE ratio of 135.65 and a beta of 2.25. On Holding AG has a 12 month low of $25.78 and a 12 month high of $59.19. The company’s 50-day moving average price is $51.16 and its 200-day moving average price is $44.97.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.