Mitchell Capital Management Co. Has $1.88 Million Stake in On Holding AG $ONON

Mitchell Capital Management Co. lowered its stake in shares of On Holding AG (NYSE:ONON) by 17.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 35,454 shares of the company’s stock after selling 7,365 shares during the period. Mitchell Capital Management Co.’s holdings in ON were worth $1,883,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ramirez Asset Management Inc. boosted its stake in ON by 20.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares during the last quarter. CWM LLC boosted its stake in ON by 22.2% during the 1st quarter. CWM LLC now owns 1,259 shares of the company’s stock valued at $55,000 after purchasing an additional 229 shares during the last quarter. Sterling Investment Counsel LLC boosted its stake in ON by 5.5% during the 2nd quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock valued at $299,000 after purchasing an additional 300 shares during the last quarter. TCTC Holdings LLC lifted its position in shares of ON by 118.4% during the 1st 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. Finally, Wesbanco Bank Inc. lifted its position in shares of ON by 0.6% during the 2nd quarter. Wesbanco Bank Inc. now owns 69,303 shares of the company’s stock worth $3,607,000 after buying an additional 421 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Trading Down 3.2%

NYSE:ONON opened at $41.93 on Monday. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $26.40 billion, a PE ratio of 93.18, a price-to-earnings-growth ratio of 5.20 and a beta of 2.19. The firm’s 50 day moving average is $44.61 and its 200 day moving average is $48.72. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05.

Wall Street Analyst Weigh In

Several equities analysts have commented on ONON shares. Telsey Advisory Group reissued an “outperform” rating and set a $65.00 target price on shares of ON in a research report on Thursday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $62.00 target price on shares of ON in a research report on Tuesday, August 12th. Barclays lifted their target price on shares of ON from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Raymond James Financial cut shares of ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 target price on the stock. in a research report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their target price on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, ON has an average rating of “Moderate Buy” and an average price target of $64.20.

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