Adidas (OTCMKTS:ADDYY) Hits New 12-Month Low - Here's What Happened

Key Points

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Adidas AG (OTCMKTS:ADDYY - Get Free Report) shares hit a new 52-week low on Thursday . The company traded as low as $95.87 and last traded at $96.53, with a volume of 28627 shares changing hands. The stock had previously closed at $100.84.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ADDYY shares. DZ Bank upgraded shares of Adidas from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Piper Sandler initiated coverage on shares of Adidas in a research report on Monday, May 5th. They set an "overweight" rating on the stock. Berenberg Bank upgraded shares of Adidas to a "hold" rating in a research note on Tuesday, April 15th. Baird R W upgraded shares of Adidas from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Bank of America upgraded shares of Adidas from a "neutral" rating to a "buy" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy".

Adidas Price Performance

The stock's fifty day moving average is $118.02 and its 200-day moving average is $121.31. The stock has a market capitalization of $34.46 billion, a PE ratio of 26.29, a P/E/G ratio of 0.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.72.

Adidas (OTCMKTS:ADDYY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.30 billion. Adidas had a net margin of 4.93% and a return on equity of 20.68%. As a group, equities analysts predict that Adidas AG will post 2.27 earnings per share for the current fiscal year.

Adidas Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.7565 per share. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from Adidas's previous dividend of $0.24. This represents a yield of 62.0%. Adidas's payout ratio is 20.71%.

Hedge Funds Weigh In On Adidas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in Adidas by 13,801.2% during the first quarter. GAMMA Investing LLC now owns 124,694 shares of the company's stock valued at $14,710,000 after purchasing an additional 123,797 shares in the last quarter. Mar Vista Investment Partners LLC raised its position in shares of Adidas by 2.6% in the fourth quarter. Mar Vista Investment Partners LLC now owns 29,199 shares of the company's stock valued at $3,556,000 after buying an additional 731 shares during the last quarter. Rhumbline Advisers raised its position in shares of Adidas by 7.9% in the first quarter. Rhumbline Advisers now owns 9,655 shares of the company's stock valued at $1,139,000 after buying an additional 709 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Adidas by 9.4% in the second quarter. Yousif Capital Management LLC now owns 5,221 shares of the company's stock valued at $607,000 after buying an additional 450 shares during the last quarter.

About Adidas

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.