Comerica Bank increased its stake in Columbia Sportswear (NASDAQ:COLM – Get Rating) by 4.2% in the first quarter, HoldingsChannel reports. The institutional investor held 29,085 shares of the textile maker after buying an additional 1,165 shares during the quarter. Comerica Bank’s holdings of Columbia Sportswear were worth $2,611,000 when it last filed with the SEC.
A number of other institutional investors and hedge funds also bought and sold shares of COLM. Kestra Advisory Services LLC increased its position in Columbia Sportswear by 12.8% in the fourth quarter. Kestra Advisory Services LLC now owns 4,913 shares of the textile maker valued at $479,000 after buying an additional 557 shares in the last quarter. Strs Ohio bought a new stake in Columbia Sportswear in Q4 worth $1,622,000. The New York State Teachers’ Retirement System increased its position in Columbia Sportswear by 251.4% in Q4. The New York State Teachers’ Retirement System now owns 7,945 shares of the textile maker valued at $774,000 after buying an additional 5,684 shares last quarter. Andrew Hill Investment Advisors Inc. bought a new stake in Columbia Sportswear in Q4 worth $990,000. Finally, NN Investment Partners Holdings NV acquired a new stake in Columbia Sportswear in Q4 valued at $1,404,000. 48.65% of the shares are held by hedge funds and other institutional investors.
Insiders place their bets
In other Columbia Sportswear news, Director Ronald E. Nelson sold 3,706 shares of the company in a trade dated Thursday, May 5. The stock was sold at an average price of $80.16, for a total value of $297,072.96. Following completion of the transaction, the administrator now owns 14,402 shares of the company, valued at approximately $1,154,464.32. The sale was disclosed in a filing with the SEC, accessible via the SEC’s website. In other Columbia Sportswear news, director Stephen E. Babson sold 2,568 shares of the company in a trade dated Tuesday, May 3. The stock was sold at an average price of $81.14, for a total value of $208,367.52. Following the sale, the director now owns 112,627 shares of the company, valued at approximately $9,138,554.78. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, director Ronald E. Nelson sold 3,706 shares of the company in a trade dated Thursday, May 5. The shares were sold at an average price of $80.16, for a total value of $297,072.96. Following the completion of the sale, the administrator now directly owns 14,402 shares of the company, valued at approximately $1,154,464.32. The disclosure of this sale can be found here. 42.37% of the shares are held by company insiders.
A Wall Street analyst gives his opinion
COLM has been the subject of several research analyst reports. Stifel Nicolaus lowered his target price on Columbia Sportswear from $100.00 to $81.00 in a research report on Wednesday. Cowen lowered his target price on Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 research report. TheStreet lowered Columbia Sportswear from a “b” rating to a “c+” rating in a Thursday, April 28 research report. Bank of America downgraded Columbia Sportswear from a “neutral” rating to an “underperforming” rating and lowered its target price for the company from $108.00 to $80.00 in a Friday, April 29 research report . Finally, Robert W. Baird reduced his target price on Columbia Sportswear from $110.00 to $100.00 in a Friday, April 29 research report. One equity research analyst gave the stock a sell rating, four gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $99.14.
Columbia Sportswear Inventory Performance
COLM stock opened at $76.40 on Friday. The company has a market capitalization of $4.80 billion, a price-earnings ratio of 13.77, a PEG ratio of 1.56 and a beta of 0.91. Columbia Sportswear has a fifty-two week low of $68.29 and a fifty-two week high of $107.50. The stock has a fifty-day moving average of $74.87 and a 200-day moving average of $84.70.
Columbia Sportswear (NASDAQ:COLM – Get Rating) last released its quarterly results on Thursday, April 28. The textile maker reported earnings per share of $1.03 for the quarter, beating the consensus estimate of $0.86 by $0.17. The company posted revenue of $761.50 million in the quarter, versus a consensus estimate of $762.88 million. Columbia Sportswear had a return on equity of 19.34% and a net margin of 11.19%. The company’s quarterly revenue increased by 21.7% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $0.84. Stock analysts predict Columbia Sportswear will post an EPS of 5.85 for the current year.
Columbia Sportswear Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 2. Shareholders of record on Thursday, May 19 received a dividend of $0.30. The ex-dividend date was Wednesday, May 18. This represents an annualized dividend of $1.20 and a yield of 1.57%. Columbia Sportswear’s dividend payout ratio is currently 21.62%.
Columbia Sportswear Company Profile
(Get a rating)
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets and distributes outdoor, active and everyday apparel, footwear, accessories and equipment in the United States, Latin America, Asia- Pacific, Europe, Middle East, Africa and Canada. The company provides clothing, accessories and equipment that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, running , water sports, yoga, golf and adventure travel.
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