Wellington Management Group LLP Has $250.10 Million Position in On Holding AG (NYSE:ONON)

Wellington Management Group LLP lessened its position in On Holding AG (NYSE:ONON) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,566,421 shares of the company’s stock after selling 738,332 shares during the quarter. Wellington Management Group LLP’s holdings in ON were worth $250,103,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ONON. CIBC Private Wealth Group LLC grew its stake in shares of ON by 9.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 15,241 shares of the company’s stock worth $846,000 after acquiring an additional 1,375 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in ON during the fourth quarter worth $78,799,000. Orion Portfolio Solutions LLC grew its position in ON by 5.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 31,645 shares of the company’s stock valued at $1,733,000 after purchasing an additional 1,747 shares in the last quarter. Norges Bank acquired a new stake in ON in the 4th quarter valued at $164,574,000. Finally, Financial Engines Advisors L.L.C. lifted its position in ON by 3.1% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 56,880 shares of the company’s stock worth $3,115,000 after buying an additional 1,690 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Price Performance

NYSE ONON opened at $42.69 on Wednesday. The business has a fifty day moving average price of $51.85 and a two-hundred day moving average price of $52.68. The stock has a market capitalization of $26.88 billion, a PE ratio of 99.28, a PEG ratio of 1.02 and a beta of 2.35. On Holding AG has a fifty-two week low of $29.84 and a fifty-two week high of $64.05.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ONON shares. Barclays raised their price objective on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price target on shares of ON in a research report on Tuesday. Citigroup assumed coverage on ON in a research note on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective on the stock. Williams Trading raised their target price on shares of ON from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group began coverage on shares of ON in a research report on Tuesday. They set a “hold” rating and a $44.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.45.

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, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.