Fairfield Bush & CO. bought a new position in shares of adidas AG (OTCMKTS:ADDYY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,890 shares of the company’s stock, valued at approximately $288,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC grew its stake in adidas by 6.0% in the third quarter. Parametric Portfolio Associates LLC now owns 310,794 shares of the company’s stock valued at $35,182,000 after acquiring an additional 17,631 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in adidas in the fourth quarter valued at approximately $2,446,000. NorthCoast Asset Management LLC grew its stake in adidas by 24.1% in the fourth quarter. NorthCoast Asset Management LLC now owns 16,922 shares of the company’s stock valued at $1,698,000 after acquiring an additional 3,285 shares during the period. Finally, Pacer Advisors Inc. grew its stake in adidas by 37.4% in the third quarter. Pacer Advisors Inc. now owns 4,751 shares of the company’s stock valued at $538,000 after acquiring an additional 1,294 shares during the period. 0.14% of the stock is owned by institutional investors and hedge funds.
ADDYY has been the topic of a number of recent research reports. Zacks Investment Research upgraded adidas from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Wednesday, January 10th. Bank of America upgraded adidas from a “neutral” rating to a “buy” rating in a report on Thursday, March 8th. Finally, Citigroup upgraded adidas from a “neutral” rating to a “buy” rating in a report on Thursday, March 15th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. adidas has an average rating of “Buy” and a consensus price target of $190.75.
adidas (OTCMKTS:ADDYY) last issued its quarterly earnings results on Wednesday, March 14th. The company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.14. The business had revenue of $5.95 billion for the quarter, compared to analyst estimates of $6.08 billion. adidas had a return on equity of 22.20% and a net margin of 5.07%. sell-side analysts forecast that adidas AG will post 4.78 EPS for the current fiscal year.
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Adidas AG and its subsidiaries design, develop, produce and market a range of athletic and sports lifestyle products. The Company’s segments include Western Europe; North America; Greater China; Russia/CIS; Latin America; Japan; Middle East, South Korea, Southeast Asia/Pacific; TaylorMade-adidas Golf; Runtastic and Other centrally managed business.
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