GAMMA Investing LLC Acquires 123,797 Shares of adidas AG (OTCMKTS:ADDYY)

GAMMA Investing LLC raised its stake in adidas AG (OTCMKTS:ADDYY - Free Report) by 13,801.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 124,694 shares of the company's stock after purchasing an additional 123,797 shares during the quarter. GAMMA Investing LLC's holdings in adidas were worth $14,710,000 at the end of the most recent quarter.

Separately, Madison Investment Advisors LLC purchased a new position in shares of adidas during the fourth quarter valued at approximately $2,437,000.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADDYY. DZ Bank raised adidas from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. Baird R W raised adidas from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Piper Sandler started coverage on adidas in a research note on Monday, May 5th. They set an "overweight" rating on the stock. Bank of America raised adidas from a "neutral" rating to a "buy" rating in a research note on Thursday, April 24th. Finally, Hsbc Global Res raised adidas from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, adidas presently has an average rating of "Buy".

adidas Stock Up 0.0%

ADDYY stock traded up $0.04 during midday trading on Friday, hitting $120.50. The stock had a trading volume of 26,573 shares, compared to its average volume of 52,906. The firm has a market cap of $43.03 billion, a price-to-earnings ratio of 92.69 and a beta of 1.22. The business has a 50-day moving average of $117.89 and a two-hundred day moving average of $122.84. adidas AG has a 52-week low of $99.40 and a 52-week high of $137.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.78.

adidas (OTCMKTS:ADDYY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. adidas had a return on equity of 7.39% and a net margin of 1.91%. The company had revenue of $7 billion for the quarter, compared to analysts' expectations of $6.33 billion. As a group, equities research analysts forecast that adidas AG will post 2.27 earnings per share for the current fiscal year.

adidas Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 20th were given a dividend of $0.7565 per share. This represents a yield of 0.62%. This is an increase from adidas's previous dividend of $0.24. The ex-dividend date was Monday, May 19th. adidas's dividend payout ratio is 24.43%.

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.