On Holding AG $ONON Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its position in On Holding AG by 43.1%, owning approximately 2.6 million shares valued at $114.1 million after selling nearly 2 million shares.
• Several institutional investors have adjusted their stakes in ONON, with Jennison Associates LLC increasing its holdings by 136.6% to over 4.8 million shares.
• Analysts have raised their price targets on ONON, with most ratings indicating a general consensus of a "Moderate Buy" and a target price averaging around $64.20.

Wellington Management Group LLP lowered its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 43.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,598,852 shares of the company's stock after selling 1,967,569 shares during the period. Wellington Management Group LLP owned approximately 0.41% of ON worth $114,142,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Jennison Associates LLC raised its stake in shares of ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company's stock valued at $212,943,000 after acquiring an additional 2,798,794 shares during the period. Nuveen LLC purchased a new position in shares of ON in the 1st quarter valued at $102,850,000. BNP Paribas Financial Markets purchased a new position in shares of ON in the 4th quarter valued at $39,119,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of ON by 355.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 910,000 shares of the company's stock valued at $39,967,000 after acquiring an additional 710,000 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new position in shares of ON in the 1st quarter valued at $20,129,000. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Stock Up 0.0%

ONON stock traded up $0.02 during mid-day trading on Wednesday, hitting $45.20. 2,774,104 shares of the company were exchanged, compared to its average volume of 8,252,243. The company has a market capitalization of $28.46 billion, a PE ratio of 100.44, a price-to-earnings-growth ratio of 4.99 and a beta of 2.24. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The firm has a fifty day simple moving average of $49.99 and a 200 day simple moving average of $49.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ONON shares. Telsey Advisory Group reissued an "outperform" rating and issued a $65.00 target price on shares of ON in a research note on Thursday, August 7th. Jefferies Financial Group set a $40.00 target price on shares of ON and gave the company an "underperform" rating in a research note on Wednesday, August 13th. UBS Group raised their target price on shares of ON from $75.00 to $79.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Barclays raised their target price on shares of ON from $68.00 to $69.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, KeyCorp raised their price target on shares of ON from $60.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.