Wellington Management Group LLP Purchases 62,404 Shares of On Holding AG $ONON

Wellington Management Group LLP raised its position in On Holding AG (NYSE:ONON) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,751,615 shares of the company’s stock after purchasing an additional 62,404 shares during the period. Wellington Management Group LLP owned 0.43% of ON worth $97,462,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ONON. Cullen Frost Bankers Inc. grew its position in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after buying an additional 467 shares in the last quarter. Caitlin John LLC purchased a new position in shares of ON during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of ON by 69.6% during the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after purchasing an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of ON in the fourth quarter worth approximately $27,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after purchasing an additional 594 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

Shares of ONON stock opened at $27.71 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83. On Holding AG has a fifty-two week low of $27.71 and a fifty-two week high of $51.08. The firm has a market cap of $17.68 billion, a P/E ratio of 18.85, a P/E/G ratio of 0.58 and a beta of 2.09. The business’s 50 day moving average price is $34.83 and its 200-day moving average price is $37.22.

ON (NYSE:ONON) last announced its earnings results on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. ON’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, equities research analysts anticipate that On Holding AG will post 1.47 earnings per share for the current year.

Insider Transactions at ON

In related news, insider Olivier Bernhard purchased 65,000 shares of ON stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the transaction, the insider directly owned 5,228,184 shares of the company’s stock, valued at $160,348,403.28. This represents a 1.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Caspar Felix Coppetti purchased 65,000 shares of ON stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the transaction, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at $74,861,022.85. This trade represents a 2.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of research reports. Sanford C. Bernstein reissued an “outperform” rating and issued a $62.00 price target on shares of ON in a research note on Wednesday, August 12th. Barclays lowered their price objective on shares of ON from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 12th. Stifel Nicolaus cut their target price on shares of ON from $60.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. The Goldman Sachs Group set a $42.00 target price on ON in a research note on Wednesday, August 12th. Finally, Robert W. Baird decreased their price target on shares of ON from $70.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus price target of $48.57.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.