Pacer Advisors Inc. Boosts Stake in Columbia Sportswear (NASDAQ:COLM)

Pacer Advisors Inc. raised its position in Columbia Sportswear (NASDAQ:COLM) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,773,584 shares of the textile maker’s stock after buying an additional 292,716 shares during the period. Pacer Advisors Inc. owned approximately 3.10% of Columbia Sportswear worth $147,544,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Columbia Sportswear by 116.6% in the 2nd quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock valued at $34,000 after buying an additional 225 shares during the last quarter. GAMMA Investing LLC boosted its position in Columbia Sportswear by 51.3% in the 3rd quarter. GAMMA Investing LLC now owns 419 shares of the textile maker’s stock valued at $35,000 after buying an additional 142 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in Columbia Sportswear in the 3rd quarter valued at about $65,000. Dnca Finance acquired a new stake in shares of Columbia Sportswear in the 2nd quarter valued at about $68,000. Finally, nVerses Capital LLC acquired a new stake in shares of Columbia Sportswear in the 3rd quarter valued at about $75,000. 47.76% of the stock is owned by hedge funds and other institutional investors.

Columbia Sportswear Stock Down 2.1 %

COLM opened at $80.10 on Thursday. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 3.47 and a beta of 0.92. Columbia Sportswear has a fifty-two week low of $73.04 and a fifty-two week high of $87.23. The company’s 50-day moving average price is $81.43 and its 200 day moving average price is $81.24.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.20. The firm had revenue of $931.80 million for the quarter, compared to analyst estimates of $937.17 million. Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.48%. Columbia Sportswear’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 earnings per share. Research analysts anticipate that Columbia Sportswear will post 3.86 earnings per share for the current year.

Columbia Sportswear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. Columbia Sportswear’s payout ratio is currently 33.15%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $77.00.

Columbia Sportswear Profile

Columbia Sportswear Company, together with its subsidiaries, designs, develops, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.