Villere ST Denis J & Co. LLC Reduces Holdings in On Holding AG (NYSE:ONON)

Villere ST Denis J & Co. LLC trimmed its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 700,431 shares of the company's stock after selling 41,755 shares during the period. ON makes up approximately 3.5% of Villere ST Denis J & Co. LLC's holdings, making the stock its 6th largest position. Villere ST Denis J & Co. LLC owned approximately 0.11% of ON worth $38,363,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Jennison Associates LLC raised its holdings in ON by 27.4% in the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock worth $112,259,000 after acquiring an additional 440,685 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock worth $76,213,000 after acquiring an additional 349,789 shares during the last quarter. Cerity Partners LLC raised its holdings in ON by 189.9% in the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company's stock worth $36,083,000 after acquiring an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in ON by 338.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company's stock worth $29,834,000 after acquiring an additional 459,157 shares during the last quarter. Finally, Wasatch Advisors LP raised its holdings in ON by 4.3% in the 3rd quarter. Wasatch Advisors LP now owns 419,536 shares of the company's stock worth $21,040,000 after acquiring an additional 17,362 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ONON. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $67.00 target price on shares of ON in a research report on Wednesday, January 15th. Truist Financial boosted their price objective on shares of ON from $58.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. BTIG Research raised shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 price objective for the company in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $64.00 target price on shares of ON in a report on Wednesday, January 15th. Finally, Bank of America assumed coverage on shares of ON in a report on Tuesday, January 7th. They issued a "buy" rating and a $73.00 target price for the company. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.73.

ON Price Performance

Shares of NYSE ONON traded down $1.32 during mid-day trading on Wednesday, hitting $52.04. 3,354,435 shares of the company's stock traded hands, compared to its average volume of 3,758,752. The company's 50-day moving average is $56.68 and its two-hundred day moving average is $51.84. The company has a market capitalization of $32.77 billion, a P/E ratio of 121.03, a PEG ratio of 1.04 and a beta of 2.30. On Holding AG has a 1 year low of $27.37 and a 1 year high of $64.05.

ON 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.