Wellington Shields & Co. LLC Has $312,000 Stake in On Holding AG (NYSE:ONON)

Key Points

• Wellington Shields & Co. LLC has reduced its stake in On Holding AG (NYSE:ONON) by 50%, now holding 7,100 shares valued at approximately $312,000.
• Other hedge funds have significantly increased their positions in ONON, with Kestra Private Wealth Services LLC growing its stake by 151.2% in the same quarter.
• Analysts' ratings for ONON stock are largely positive, with a consensus rating of "Moderate Buy" and a target price averaging $64.00.

Wellington Shields & Co. LLC lowered its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 50.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,100 shares of the company's stock after selling 7,100 shares during the period. Wellington Shields & Co. LLC's holdings in ON were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Montag A & Associates Inc. bought a new stake in shares of ON during the first quarter worth $26,000. TCTC Holdings LLC lifted its position in ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after acquiring an additional 315 shares in the last quarter. Park Square Financial Group LLC bought a new stake in ON in the 4th quarter valued at $32,000. MassMutual Private Wealth & Trust FSB bought a new stake in ON in the 1st quarter valued at $32,000. Finally, Bernard Wealth Management Corp. bought a new stake in ON in the 4th quarter valued at $44,000. Institutional investors own 36.39% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ONON. Morgan Stanley cut their price objective on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Barclays set a $68.00 price objective on shares of ON in a research report on Wednesday, May 14th. UBS Group set a $75.00 price objective on shares of ON in a research report on Wednesday, May 14th. Raymond James Financial lowered shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price objective on the stock. in a research report on Tuesday, July 22nd. Finally, Truist Financial boosted their price objective on shares of ON from $61.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

ON Price Performance

ON stock traded down $1.49 during trading hours on Friday, reaching $47.08. 8,753,372 shares of the stock were exchanged, compared to its average volume of 4,390,541. The company has a market cap of $29.64 billion, a P/E ratio of 67.26, a price-to-earnings-growth ratio of 2.73 and a beta of 2.24. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The stock has a 50 day moving average of $53.86 and a two-hundred day moving average of $51.50.

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.