Pittenger & Anderson Inc. Has $85,000 Stock Holdings in On Holding AG $ONON

Pittenger & Anderson Inc. decreased its stake in shares of On Holding AG (NYSE:ONON) by 86.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the company’s stock after selling 12,500 shares during the period. Pittenger & Anderson Inc.’s holdings in ON were worth $85,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Winslow Capital Management LLC acquired a new position in ON during the 2nd quarter worth $248,113,000. Sands Capital Management LLC bought a new stake in shares of ON during the second quarter worth $240,177,000. Bamco Inc. NY lifted its stake in shares of ON by 3.3% during the second quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock valued at $215,486,000 after acquiring an additional 132,756 shares during the period. American Century Companies Inc. boosted its holdings in ON by 29.4% in the second quarter. American Century Companies Inc. now owns 3,692,568 shares of the company’s stock valued at $192,198,000 after acquiring an additional 839,754 shares during the last quarter. Finally, Norges Bank acquired a new stake in ON in the second quarter worth about $138,641,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. KeyCorp lowered their target price on ON from $68.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Zacks Research cut ON from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. BTIG Research reissued a “buy” rating and issued a $70.00 target price on shares of ON in a research note on Thursday. The Goldman Sachs Group lifted their price target on ON from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Finally, Singular Research raised shares of ON to a “strong-buy” rating in a research report on Monday, November 17th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.86.

ON Trading Up 0.4%

Shares of ON stock opened at $45.19 on Friday. The firm’s 50-day moving average price is $46.63 and its two-hundred day moving average price is $45.04. The company has a market capitalization of $28.38 billion, a price-to-earnings ratio of 58.69, a PEG ratio of 1.35 and a beta of 2.15. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. On Holding AG has a 12-month low of $34.38 and a 12-month high of $61.70.

ON Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.