adidas AG (OTCMKTS:ADDYY – Get Free Report) was the target of a large drop in short interest in June. As of June 30th, there was short interest totalling 19,600 shares, a drop of 14.0% from the June 15th total of 22,800 shares. Based on an average daily trading volume, of 174,600 shares, the days-to-cover ratio is presently 0.1 days.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on ADDYY shares. Sanford C. Bernstein upgraded adidas from a “market perform” rating to an “outperform” rating in a report on Monday, June 12th. UBS Group upgraded adidas from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $134.13.
Hedge Funds Weigh In On adidas
A number of hedge funds have recently bought and sold shares of the company. Financial Gravity Asset Management Inc. raised its holdings in adidas by 356.9% during the first quarter. Financial Gravity Asset Management Inc. now owns 8,933 shares of the company’s stock worth $795,000 after purchasing an additional 6,978 shares in the last quarter. OLD Mission Capital LLC acquired a new position in adidas during the 1st quarter worth $7,187,000. Mar Vista Investment Partners LLC increased its stake in adidas by 3.2% in the first quarter. Mar Vista Investment Partners LLC now owns 25,038 shares of the company’s stock valued at $2,214,000 after acquiring an additional 768 shares during the period. Pacer Advisors Inc. grew its stake in adidas by 71.8% during the first quarter. Pacer Advisors Inc. now owns 65,227 shares of the company’s stock worth $5,760,000 after buying an additional 27,252 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in adidas by 22.9% in the first quarter. Fisher Asset Management LLC now owns 7,479 shares of the company’s stock valued at $661,000 after buying an additional 1,394 shares during the period. 0.07% of the stock is currently owned by institutional investors and hedge funds.
adidas Stock Down 0.8 %
adidas (OTCMKTS:ADDYY – Get Free Report) last announced its quarterly earnings results on Friday, May 5th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). adidas had a negative return on equity of 1.57% and a net margin of 0.42%. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.56 billion. Analysts anticipate that adidas will post -1.43 EPS for the current year.
adidas Cuts Dividend
The company also recently disclosed a dividend, which was paid on Tuesday, May 23rd. Shareholders of record on Monday, May 15th were given a $0.2439 dividend. The ex-dividend date was Friday, May 12th. This represents a yield of 0.27%. adidas’s payout ratio is currently 109.09%.
adidas Company Profile
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.
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