Bank of New York Mellon Corp Sells 64,467 Shares of On Holding AG (NYSE:ONON)

Bank of New York Mellon Corp lessened its holdings in shares of On Holding AG (NYSE:ONON) by 24.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,812 shares of the company’s stock after selling 64,467 shares during the quarter. Bank of New York Mellon Corp’s holdings in ON were worth $10,998,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital Advisors Inc. OK raised its stake in ON by 3.2% in the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock valued at $350,000 after purchasing an additional 200 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of 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 buying an additional 259 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in shares of 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 buying an additional 373 shares in the last quarter. Vista Capital Partners Inc. lifted its holdings in shares of ON by 2.4% during the 4th quarter. Vista Capital Partners Inc. now owns 18,430 shares of the company’s stock worth $1,009,000 after acquiring an additional 430 shares during the last quarter. Finally, Private Trust Co. NA purchased a new position in ON in the third quarter worth $26,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ONON shares. TD Cowen raised their price target on ON from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Bank of America started coverage on ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price objective on the stock. Barclays upped their target price on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of ON in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $61.90.

ON Stock Performance

NYSE ONON opened at $46.42 on Friday. The stock has a market cap of $29.23 billion, a P/E ratio of 107.94, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. On Holding AG has a fifty-two week low of $29.84 and a fifty-two week high of $64.05. The stock has a 50 day simple moving average of $54.32 and a two-hundred day simple moving average of $52.62.

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.