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

GAMMA Investing LLC boosted its holdings in adidas AG (OTCMKTS:ADDYY - Free Report) by 13,801.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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, Mar Vista Investment Partners LLC grew its position in adidas by 2.6% in the 4th quarter. Mar Vista Investment Partners LLC now owns 29,199 shares of the company's stock valued at $3,556,000 after purchasing an additional 731 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America upgraded shares of adidas from a "neutral" rating to a "buy" rating in a report on Thursday, April 24th. DZ Bank raised shares of adidas from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Berenberg Bank raised adidas to a "hold" rating in a report on Tuesday, April 15th. Baird R W raised adidas from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Piper Sandler assumed coverage on adidas in a report on Monday, May 5th. They issued an "overweight" rating on the stock. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy".

adidas Stock Up 0.4%

ADDYY stock traded up $0.43 during trading on Tuesday, reaching $121.90. The stock had a trading volume of 44,084 shares, compared to its average volume of 52,666. adidas AG has a one year low of $99.40 and a one year high of $137.73. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $118.20 and its two-hundred day moving average is $122.98. The company has a market capitalization of $43.53 billion, a price-to-earnings ratio of 93.77 and a beta of 1.22.

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 analysts' consensus estimates of $1.27 by $0.01. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.33 billion. adidas had a net margin of 1.91% and a return on equity of 7.39%. Equities research analysts forecast that adidas AG will post 2.27 EPS for the current year.

adidas Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 20th were issued a $0.7565 dividend. This represents a dividend 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 presently 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.