Vanguard Group Inc. raised its stake in shares of Columbia Sportswear Company (NASDAQ:COLM) by 31.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,774,168 shares of the textile maker’s stock after buying an additional 667,856 shares during the period. Vanguard Group Inc. owned about 3.98% of Columbia Sportswear worth $162,982,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. American Century Companies Inc. bought a new stake in Columbia Sportswear during the first quarter worth approximately $24,494,000. Victory Capital Management Inc. raised its stake in Columbia Sportswear by 78.4% in the first quarter. Victory Capital Management Inc. now owns 910,295 shares of the textile maker’s stock worth $53,480,000 after buying an additional 400,145 shares during the last quarter. Norges Bank bought a new stake in Columbia Sportswear during the fourth quarter worth approximately $12,115,000. JPMorgan Chase & Co. raised its stake in Columbia Sportswear by 10.7% in the first quarter. JPMorgan Chase & Co. now owns 1,509,656 shares of the textile maker’s stock worth $88,693,000 after buying an additional 145,729 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in Columbia Sportswear by 67.8% in the first quarter. William Blair Investment Management LLC now owns 340,355 shares of the textile maker’s stock worth $19,996,000 after buying an additional 137,519 shares during the last quarter. 39.11% of the stock is currently owned by hedge funds and other institutional investors.
Columbia Sportswear Company (NASDAQ COLM) traded up 1.27% during trading on Monday, reaching $58.95. The company had a trading volume of 92,125 shares. The firm’s 50 day moving average is $57.74 and its 200 day moving average is $56.69. Columbia Sportswear Company has a one year low of $51.56 and a one year high of $63.55. The company has a market capitalization of $4.11 billion, a PE ratio of 21.49 and a beta of 0.80.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Thursday, July 27th. The textile maker reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.03. Columbia Sportswear had a net margin of 8.01% and a return on equity of 12.31%. The company had revenue of $398.90 million during the quarter, compared to the consensus estimate of $394.53 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. Columbia Sportswear’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts predict that Columbia Sportswear Company will post $2.79 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $0.72 annualized dividend and a yield of 1.22%. Columbia Sportswear’s dividend payout ratio is presently 26.47%.
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COLM has been the subject of a number of analyst reports. Goldman Sachs Group, Inc. (The) lowered Columbia Sportswear from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, May 23rd. Canaccord Genuity downgraded Columbia Sportswear from a “buy” rating to a “hold” rating and reduced their price objective for the company from $64.00 to $60.00 in a research note on Friday, April 28th. Zacks Investment Research upgraded Columbia Sportswear from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Buckingham Research restated a “neutral” rating and issued a $58.00 price objective on shares of Columbia Sportswear in a research note on Monday, July 17th. Finally, Cowen and Company set a $58.00 price target on Columbia Sportswear and gave the stock a “hold” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $63.45.
In other Columbia Sportswear news, Director Edward S. George sold 1,776 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $53.59, for a total value of $95,175.84. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $107,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 58.86% of the company’s stock.
About Columbia Sportswear
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada.
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