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

Wellington Management Group LLP cut its position in shares of On Holding AG (NYSE:ONON) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,566,421 shares of the company’s stock after selling 738,332 shares during the period. Wellington Management Group LLP owned about 0.73% of ON worth $250,103,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CIBC Private Wealth Group LLC grew its stake in shares of ON by 9.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 15,241 shares of the company’s stock valued at $846,000 after purchasing an additional 1,375 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in ON in the fourth quarter valued at $78,799,000. Orion Portfolio Solutions LLC raised its stake in ON by 5.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 31,645 shares of the company’s stock worth $1,733,000 after acquiring an additional 1,747 shares in the last quarter. Norges Bank bought a new position in shares of ON during the fourth quarter valued at $164,574,000. Finally, Financial Engines Advisors L.L.C. boosted its stake in shares of ON by 3.1% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 56,880 shares of the company’s stock valued at $3,115,000 after purchasing an additional 1,690 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Price Performance

NYSE ONON opened at $42.69 on Wednesday. The stock’s 50-day moving average is $51.85 and its 200-day moving average is $52.68. On Holding AG has a one year low of $29.84 and a one year high of $64.05. The firm has a market cap of $26.88 billion, a P/E ratio of 99.28, a P/E/G ratio of 1.02 and a beta of 2.35.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ONON shares. Needham & Company LLC reduced their target price on ON from $64.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Jefferies Financial Group initiated coverage on ON in a research note on Tuesday. They issued a “hold” rating and a $44.00 price objective on the stock. The Goldman Sachs Group lowered ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Wednesday, February 12th. Williams Trading upped their price target on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Barclays increased their price objective on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.