Norman Fields Gottscho Capital Management LLC Cuts Stock Position in On Holding AG $ONON

Norman Fields Gottscho Capital Management LLC cut its position in On Holding AG (NYSE:ONON) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 154,890 shares of the company’s stock after selling 14,305 shares during the quarter. ON makes up approximately 2.3% of Norman Fields Gottscho Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Norman Fields Gottscho Capital Management LLC’s holdings in ON were worth $7,199,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ONON. United Financial Planning Group LLC purchased a new position in shares of ON in the 3rd quarter worth approximately $42,000. Horizon Investments LLC purchased a new stake in ON during the third quarter valued at approximately $44,000. GAMMA Investing LLC lifted its position in ON by 5,888.9% during the third quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $46,000 after acquiring an additional 1,060 shares during the last quarter. Noble Wealth Management PBC boosted its stake in ON by 350.0% in the fourth quarter. Noble Wealth Management PBC now owns 1,350 shares of the company’s stock valued at $63,000 after acquiring an additional 1,050 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in ON in the third quarter worth $66,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Trading Down 3.1%

NYSE:ONON opened at $37.66 on Friday. On Holding AG has a 12 month low of $34.38 and a 12 month high of $61.29. The firm has a fifty day simple moving average of $44.29 and a 200-day simple moving average of $43.97. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $24.03 billion, a P/E ratio of 52.30, a PEG ratio of 0.77 and a beta of 2.14.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of ON in a research report on Wednesday, March 4th. Piper Sandler reissued an “overweight” rating on shares of ON in a research report on Friday, December 5th. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of ON in a research note on Thursday, February 26th. UBS Group reaffirmed a “buy” rating on shares of ON in a research report on Thursday, February 19th. Finally, Truist Financial decreased their price target on ON from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus target price of $59.48.

About ON

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.