Principal Financial Group Inc. reduced its stake in shares of Columbia Sportswear (NASDAQ:COLM – Get Rating) by 1.1% during the 1st quarter, reports Holdings Channel.com. The fund held 118,632 shares of the textile maker after selling 1,273 shares during the period. Principal Financial Group Inc.’s holdings of Columbia Sportswear were worth $10,739,000 when it last filed with the SEC.
Several other large investors also bought and sold shares of COLM. Exchange Traded Concepts LLC bought a new position in Columbia Sportswear during Q1 worth $31,000. Allspring Global Investments Holdings LLC bought a new position in Columbia Sportswear during Q4 worth $43,000. Nisa Investment Advisors LLC bought a new position in Columbia Sportswear during Q1 worth $195,000. M&T Bank Corp bought a new position in Columbia Sportswear during Q1 worth $263,000. Finally, Versor Investments LP purchased a new equity stake in Columbia Sportswear during Q1 for $267,000. 48.65% of the shares are currently held by institutional investors.
Columbia Sportswear Stock Up 0.3%
NASDAQ COLM shares opened at $73.73 on Wednesday. Columbia Sportswear has a 52-week low of $68.29 and a 52-week high of $107.50. The company has a 50-day simple moving average of $74.16 and a two-hundred-day simple moving average of $82.08. The company has a market capitalization of $4.64 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.81 and a beta of 0.89.
Columbia Sportswear (NASDAQ:COLM – Get Rating) last released its results on Wednesday, July 27. The textile maker reported EPS of $0.11 for the quarter, beating the consensus estimate of $0.04 by $0.07. Columbia Sportswear had a return on equity of 17.87% and a net margin of 10.13%. The company posted revenue of $578.06 million in the quarter, versus a consensus estimate of $592.35 million. In the same quarter last year, the company achieved EPS of $0.61. The company’s revenue increased by 2.1% compared to the same quarter last year. Equity research analysts expect Columbia Sportswear to post EPS of 5.18 for the current year.
Columbia Sportswear Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31. Shareholders of record on Wednesday, August 17 will receive a dividend of $0.30. The ex-dividend date is Tuesday, August 16. This represents an annualized dividend of $1.20 and a yield of 1.63%. Columbia Sportswear’s dividend payout ratio is currently 23.76%.
Wall Street analysts predict growth
Several brokerages have recently published reports on COLM. TheStreet lowered Columbia Sportswear from a “b” rating to a “c+” rating in a Thursday, April 28 research report. UBS Group reduced its target price on Columbia Sportswear from $83.00 to $80.00 and set a “neutral” rating for the company in a Thursday, July 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 . Cowen lowered his target price on Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 research report. Finally, Robert W. Baird reduced his target price on Columbia Sportswear from $85.00 to $82.00 and set a “neutral” rating for the company in a research report Thursday, July 28. An equity research analyst rated the stock with a sell rating, five gave the company a hold rating and three gave the company a buy rating. Based on MarketBeat data, Columbia Sportswear has an average rating of “Hold” and an average price target of $89.38.
Profile Columbia Sportswear
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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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