Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Adidas AG    ADS   DE000A1EWWW0

ADIDAS AG

(ADS)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Adidas : shares slide as traders say top investor GBL to cut stake

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/12/2019 | 05:46am EDT
Boxes of Adidas shoes are pictured in the warehouse of local footwear retailer

(Reuters) - Adidas shares fell 3% on Wednesday on news that one of the German sportswear company's top shareholders, Groupe Bruxelles Lambert (GBL), was preparing to sell a portion of its near 4 billion euro ($4.5 billion) stake, three traders said.

Belgian investment firm GBL was placing a tenth of its 7.5% holding, or 1.37 million shares, at 257.75 euros on the market for sale, a 1.7% discount to Tuesday's closing price, the traders added.

The sale is worth 353.1 million euros.

GBL and Adidas, whose shares hit record highs on Tuesday, declined to comment.

Adidas is in the midst of a share buyback, planning to repurchase 3 billion euros in stock between March 2018 and May 2021, which has gradually pushed up GBL's relative stake.

Adidas share price has more than doubled since GBL invested in the company as CEO Kasper Rorsted focused on improving profitability, expanding in North America and China and boosting online sales.

In GBL's recent annual report, it said it intends not to have a single asset exceeding 15 to 20% of its portfolio. Adidas made up 17.5% of GBL's portfolio at the end of March, with the stock's value surging to record highs this year.

At 0919 GMT, Adidas shares were down 2.6% at 255.4 euros and lagging the broader DAX index, which was down 0.5%.

GBL, founded by Belgium's richest man Albert Frere, who died in December at the age of 92, first invested in Adidas in 2015 with the purchase of a 3% stake.

GBL also holds stakes in some of Europe's biggest companies, including Pernod Ricard, LafargeHolcim and Total.

(Reporting by Thyagaraju Adinarayan; additional reporting by Helen Reid in LONDON, Philip Blenkinsop in BRUSSELS and Emma Thomasson in BERLIN; writing by Josephine Mason; editing by Alexander Smith and Louise Heavens)

By Thyagaraju Adinarayan, Emma Thomasson and Philip Blenkinsop

Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS AG -0.23% 281.35 Delayed Quote.54.25%
DAX -0.17% 12633.6 Delayed Quote.19.65%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ADIDAS AG
10/16TECHNICAL FOUL : Chinese traders in online sneaker market punish NBA after Hong ..
RE
10/14ADIDAS AG : Release of a capital market information
EQ
10/11Houston Rockets Nike merchandise disappears from China stores
RE
10/09ADIDAS : China's Topsports rises 8% in Hong Kong debut after $1 billion IPO
RE
10/08Topgolf seeks to hire banks for IPO - sources
RE
10/08BlackRock bets on the circular economy with new fund
RE
10/08ADIDAS AG : Release of a capital market information
EQ
10/07ADIDAS AG : Release according to Article 40, Section 1 of the WpHG [the German S..
EQ
10/04ADIDAS AG : Release according to Article 40, Section 1 of the WpHG [the German S..
EQ
10/03China's Topsports raises $1.01 billion in Hong Kong IPO -s ources
RE
More news
Financials (EUR)
Sales 2019 23 498 M
EBIT 2019 2 708 M
Net income 2019 1 948 M
Finance 2019 1 036 M
Yield 2019 1,36%
P/E ratio 2019 28,7x
P/E ratio 2020 25,6x
EV / Sales2019 2,30x
EV / Sales2020 2,13x
Capitalization 55 021 M
Chart ADIDAS AG
Duration : Period :
adidas AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ADIDAS AG
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 37
Average target price 273,84  €
Last Close Price 281,35  €
Spread / Highest target 17,3%
Spread / Average Target -2,67%
Spread / Lowest Target -27,8%
EPS Revisions
Managers
NameTitle
Kasper Bo Rørsted Chief Executive Officer
Igor Landau Chairman-Supervisory Board
Martin Shankland Head-Global Operations
Harm Ohlmeyer Chief Financial Officer
Herbert Kauffmann Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
ADIDAS AG54.25%61 291
NIKE, INC.29.62%150 017
ANTA SPORTS PRODUCTS LIMITED95.07%25 197
PUMA SE65.69%11 784
SKECHERS U.S.A., INC.62.47%5 830
FENG TAY ENTERPRISES CO., LTD.--.--%5 254