Wellington Management Group LLP Decreases Stake in On Holding AG (NYSE:ONON)

Wellington Management Group LLP reduced its stake in On Holding AG (NYSE:ONON - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,566,421 shares of the company's stock after selling 738,332 shares during the period. Wellington Management Group LLP owned approximately 0.73% of ON worth $250,103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in ON in the 4th quarter valued at about $164,574,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of ON during the fourth quarter worth approximately $78,799,000. Raymond James Financial Inc. acquired a new stake in ON in the fourth quarter valued at approximately $28,575,000. Lord Abbett & CO. LLC lifted its stake in ON by 338.3% in the third 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, Jennison Associates LLC grew its holdings in ON by 27.4% during 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 in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Down 16.4 %

NYSE:ONON traded down $7.35 during midday trading on Thursday, reaching $37.57. The stock had a trading volume of 20,145,033 shares, compared to its average volume of 4,465,734. The stock has a market cap of $23.66 billion, a P/E ratio of 87.38, a P/E/G ratio of 1.02 and a beta of 2.35. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05. The firm has a fifty day simple moving average of $50.77 and a two-hundred day simple moving average of $52.48.

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Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC reduced their price objective on shares of 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 report on Tuesday. They set a "hold" rating and a $44.00 price target for the company. The Goldman Sachs Group downgraded ON from a "buy" rating to a "neutral" rating and set a $57.00 price objective on the stock. in a report on Wednesday, February 12th. Williams Trading raised their target price on ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley upped their price target on ON from $62.00 to $66.00 and gave the company an "overweight" rating in a 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. According to MarketBeat, ON currently has an average rating of "Moderate Buy" and a consensus price target of $60.45.

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.