Wellington Management Group LLP Reduces Position in On Holding AG $ONON

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 decreased its position in On Holding AG (NYSE:ONON - Free Report) by 43.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,598,852 shares of the company's stock after selling 1,967,569 shares during the period. Wellington Management Group LLP owned about 0.41% of ON worth $114,142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ONON. Jennison Associates LLC grew its holdings in ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company's stock worth $212,943,000 after acquiring an additional 2,798,794 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of ON by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company's stock worth $184,109,000 after purchasing an additional 18,752 shares during the period. Nuveen LLC bought a new stake in shares of ON in the first quarter worth about $102,850,000. Voloridge Investment Management LLC increased its holdings in ON by 10.7% during the 4th quarter. Voloridge Investment Management LLC now owns 2,026,890 shares of the company's stock valued at $111,013,000 after purchasing an additional 196,270 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in ON by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,600,649 shares of the company's stock valued at $87,668,000 after purchasing an additional 79,680 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ONON has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on ON from $61.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Robert W. Baird lifted their price target on shares of ON from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Stifel Nicolaus boosted their price objective on shares of ON from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. KeyCorp upped their price objective on shares of ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $65.00 target price on shares of ON in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

ON Price Performance

ONON opened at $44.5590 on Friday. 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 company has a market cap of $28.06 billion, a price-to-earnings ratio of 99.02, a price-to-earnings-growth ratio of 2.48 and a beta of 2.24. The stock has a fifty day simple moving average of $50.52 and a two-hundred day simple moving average of $50.20. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05.

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.

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