Moody’s National Bank Trust Division trimmed its position in Columbia Sportswear (NASDAQ:COLM – Get Rating) by 12.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor held 12,302 shares of the textile maker after selling 1,765 shares during the quarter. Moody’s National Bank Trust Division holdings of Columbia Sportswear were worth $1,113,000 at the end of the last quarter.
Other institutional investors and hedge funds have also been buying and selling shares of the company recently. Bedel Financial Consulting Inc. increased its stake in Columbia Sportswear by 300.0% in the fourth quarter. Bedel Financial Consulting Inc. now owns 400 shares of the textile maker worth $39,000 after buying 300 more shares last quarter. Allspring Global Investments Holdings LLC bought a new stock position in Columbia Sportswear during the fourth quarter worth $43,000. CENTRAL TRUST Co increased its equity stake in Columbia Sportswear by 93.4% during the fourth quarter. CENTRAL TRUST Co now owns 3,019 shares of the textile maker valued at $294,000 after acquiring 1,458 additional shares last quarter. MML Investors Services LLC increased its equity stake in Columbia Sportswear by 38.0% during the third quarter. MML Investors Services LLC now owns 3,311 shares of the textile maker valued at $317,000 after acquiring 911 additional shares last quarter. Finally, ProShare Advisors LLC increased its equity stake in Columbia Sportswear by 27.3% during the fourth quarter. ProShare Advisors LLC now owns 3,249 shares of the textile maker valued at $317,000 after acquiring 697 additional shares last quarter. Institutional investors and hedge funds own 48.65% of the company’s shares.
In other news, Director Ronald E. Nelson sold 3,706 shares of Columbia Sportswear in a trade dated Thursday, May 5. The stock was sold at an average price of $80.16, for a total transaction of $297,072.96. As a result of the transaction, the administrator now directly owns 14,402 shares of the company, valued at approximately $1,154,464.32. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, manager Stephen E. Babson sold 2,568 shares of Columbia Sportswear in a trade dated Tuesday, May 3. The shares were sold at an average price of $81.14, for a total value of $208,367.52. Following the transaction, the administrator now directly owns 112,627 shares of the company, valued at $9,138,554.78. The disclosure of this sale can be found here. Insiders of the company own 42.37% of the shares of the company.
NASDAQ:COLM shares opened at $73.80 on Friday. The stock has a market capitalization of $4.64 billion, a price/earnings ratio of 13.30, a PEG ratio of 1.45 and a beta of 0.91. The stock’s 50-day simple moving average is $78.73 and its two-hundred-day simple moving average is $88.03. Columbia Sportswear has a 52-week low of $68.29 and a 52-week high of $107.50.
Columbia Sportswear (NASDAQ:COLM – Get Rating) last announced its results on Thursday, April 28. The textile maker reported earnings per share (EPS) of $1.03 for the quarter, beating the consensus estimate of $0.86 by $0.17. The company posted revenue of $761.50 million for the quarter, compared to $762.88 million expected by analysts. Columbia Sportswear had a return on equity of 19.34% and a net margin of 11.19%. The company’s revenue for the quarter increased 21.7% year over year. During the same period last year, the company posted earnings per share of $0.84. As a group, stock analysts expect Columbia Sportswear to post earnings per share of 5.88 for the current year.
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 1.63%. Columbia Sportswear’s payout ratio is 21.62%.
COLM has been the subject of several analyst reports. Robert W. Baird cut his price target on Columbia Sportswear from $110.00 to $100.00 in a Friday, April 29 report. TheStreet downgraded Columbia Sportswear from a “b” rating to a “c+” rating in a Thursday, April 28 report. Cowen reduced his price target on Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 report. Bank of America downgraded Columbia Sportswear from a “neutral” rating to an “underperforming” rating and lowered its price target for the stock from $108.00 to $80.00 in a Friday, April 29 report . Finally, Cowen reduced its price target on Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 report. One investment analyst gave the stock a sell rating, five gave the company a hold rating and three gave the company a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $103.43.
About Columbia Sportswear (Get an evaluation)
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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