Acadian Asset Management LLC trimmed its holdings in shares of Columbia Sportswear (NASDAQ:COLM) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,056,493 shares of the textile maker’s stock after selling 81,974 shares during the quarter. Acadian Asset Management LLC owned 1.56% of Columbia Sportswear worth $105,851,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of COLM. Creative Planning increased its position in shares of Columbia Sportswear by 3.8% during the 3rd quarter. Creative Planning now owns 3,524 shares of the textile maker’s stock valued at $341,000 after purchasing an additional 130 shares during the last quarter. Brasada Capital Management LP grew its position in Columbia Sportswear by 2.4% during the third quarter. Brasada Capital Management LP now owns 5,649 shares of the textile maker’s stock valued at $547,000 after buying an additional 131 shares during the period. Swiss National Bank increased its holdings in Columbia Sportswear by 0.7% during the fourth quarter. Swiss National Bank now owns 58,200 shares of the textile maker’s stock worth $5,831,000 after buying an additional 400 shares during the last quarter. Zeke Capital Advisors LLC increased its holdings in Columbia Sportswear by 8.5% during the third quarter. Zeke Capital Advisors LLC now owns 5,551 shares of the textile maker’s stock worth $538,000 after buying an additional 434 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Columbia Sportswear during the third quarter worth about $47,000. 37.94% of the stock is owned by institutional investors.
A number of research firms have weighed in on COLM. BidaskClub cut shares of Columbia Sportswear from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Guggenheim restated a “buy” rating and set a $110.00 price target on shares of Columbia Sportswear in a research note on Friday, February 7th. Wedbush decreased their price target on shares of Columbia Sportswear from $112.00 to $107.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Citigroup cut shares of Columbia Sportswear from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $110.00 to $100.00 in a report on Friday, January 24th. Finally, Zacks Investment Research upgraded Columbia Sportswear from a “hold” rating to a “strong-buy” rating and set a $106.00 price objective on the stock in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Columbia Sportswear presently has an average rating of “Hold” and an average price target of $109.27.
NASDAQ COLM opened at $91.43 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.97 and a debt-to-equity ratio of 0.20. The company has a market cap of $6.17 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 2.49 and a beta of 0.63. Columbia Sportswear has a 52 week low of $87.60 and a 52 week high of $109.44. The firm’s 50-day simple moving average is $95.98 and its two-hundred day simple moving average is $95.80.
Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, February 6th. The textile maker reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.08). Columbia Sportswear had a return on equity of 18.53% and a net margin of 10.86%. The business had revenue of $954.87 million during the quarter, compared to analysts’ expectations of $949.66 million. During the same quarter in the previous year, the business earned $1.68 EPS. Columbia Sportswear’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Columbia Sportswear will post 4.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Tuesday, March 10th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.14%. This is a positive change from Columbia Sportswear’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, March 9th. Columbia Sportswear’s payout ratio is currently 20.34%.
In other news, major shareholder Gertrude Boyle Trust sold 90,255 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $92.36, for a total value of $8,335,951.80. Following the completion of the transaction, the insider now directly owns 9,014,559 shares of the company’s stock, valued at $832,584,669.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sarah Bany sold 65,653 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $92.62, for a total value of $6,080,780.86. Following the completion of the transaction, the director now directly owns 1,154,136 shares of the company’s stock, valued at $106,896,076.32. The disclosure for this sale can be found here. Insiders have sold a total of 490,000 shares of company stock worth $44,737,956 in the last three months. Insiders own 56.57% of the company’s stock.
About Columbia Sportswear
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East and Africa, and Canada. The company provides apparel, accessories, and equipment that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.
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