On Holding AG (NYSE:ONON) Shares Sold by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC lessened its stake in shares of On Holding AG (NYSE:ONON) by 50.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,100 shares of the company’s stock after selling 7,100 shares during the quarter. Wellington Shields & Co. LLC’s holdings in ON were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Kestra Private Wealth Services LLC grew its stake in ON by 151.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company’s stock worth $829,000 after purchasing an additional 11,362 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in ON in the fourth quarter worth approximately $39,119,000. APEIRON CAPITAL Ltd grew its holdings in ON by 35.9% during the 1st quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company’s stock worth $43,882,000 after acquiring an additional 264,000 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in shares of ON by 9.5% in the 1st quarter. OneDigital Investment Advisors LLC now owns 6,282 shares of the company’s stock valued at $276,000 after purchasing an additional 544 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of ON in the 4th quarter valued at $28,575,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ONON shares. Piper Sandler reissued an “overweight” rating on shares of ON in a report on Tuesday, May 13th. Morgan Stanley lowered their target price on shares of ON from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Telsey Advisory Group restated an “outperform” rating and issued a $65.00 price objective on shares of ON in a research note on Tuesday, May 13th. Robert W. Baird lifted their price objective on shares of ON from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. Finally, Barclays set a $68.00 target price on shares of ON in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

ON Stock Up 1.7%

ONON stock opened at $51.83 on Wednesday. The firm has a fifty day moving average price of $54.46 and a two-hundred day moving average price of $51.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The firm has a market cap of $32.63 billion, a price-to-earnings ratio of 74.04, a PEG ratio of 2.86 and a beta of 2.25.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.