Envestnet Asset Management Inc. increased its stake in shares of Columbia Sportswear (NASDAQ:COLM – Get a rating) by 20.3% during the 1st quarter, according to the company in its most recent communication to the Securities & Exchange Commission. The company held 28,736 shares of the textile maker after acquiring 4,855 additional shares during the quarter. Envestnet Asset Management Inc.’s holdings in Columbia Sportswear were worth $2,601,000 at the end of the last quarter.
Other institutional investors and hedge funds have also been buying and selling shares of the company recently. Exchange Traded Concepts LLC acquired a new stake in Columbia Sportswear during the first quarter worth approximately $31,000. Allspring Global Investments Holdings LLC acquired a new stake in Columbia Sportswear during the fourth quarter worth approximately $43,000. Nisa Investment Advisors LLC acquired a new stake in Columbia Sportswear during the first quarter worth approximately $195,000. Versor Investments LP bought a new position in Columbia Sportswear in Q1 worth approximately $267,000. Finally, CENTRAL TRUST Co increased its position in Columbia Sportswear by 93.4% in the 4th quarter. CENTRAL TRUST Co now owns 3,019 shares of the textile maker worth $294,000 after buying 1,458 additional shares in the last quarter. Institutional investors and hedge funds own 48.65% of the company’s shares.
Columbia Sportswear Price Performance
COLM share opened at $77.04 on Thursday. The company has a market capitalization of $4.84 billion, a PE ratio of 15.26, a P/E/G ratio of 1.82 and a beta of 0.89. Columbia Sportswear has a 12 month minimum of $68.29 and a 12 month maximum of $107.50. The company has a 50-day simple moving average of $74.06 and a 200-day simple moving average of $82.64.
Columbia Sportswear (NASDAQ:COLM – Get a rating) last released its quarterly 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. The company posted revenue of $578.06 million in the quarter, versus a consensus estimate of $592.35 million. Columbia Sportswear had a net margin of 10.13% and a return on equity of 17.87%. The company’s quarterly revenue increased 2.1% year over year. In the same quarter of the previous year, the company achieved EPS of $0.61. As a group, sell-side analysts expect Columbia Sportswear to post earnings per share of 5.18 for the current year.
Columbia Sportswear Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 31. Investors 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 dividend yield of 1.56%. Columbia Sportswear’s dividend payout ratio (DPR) is currently 23.76%.
Analyst upgrades and downgrades
Several research companies have commented on COLM. Robert W. Baird cut his price target on Columbia Sportswear shares from $85.00 to $82.00 and set a “neutral” rating for the company in a Thursday, July 28 research report. Stifel Nicolaus lowered his price target on Columbia Sportswear shares from $100.00 to $81.00 in a Wednesday, July 20 research report. Cowen lowered his price target on shares of Columbia Sportswear to $95.00 in a Monday, July 25 research report. Citigroup lowered its price target on shares of Columbia Sportswear from $98.00 to $80.00 in a Thursday, July 28 report. Finally, UBS Group lowered its price target on Columbia Sportswear shares from $83.00 to $80.00 and set a “neutral” rating for the company in a Thursday, July 28 report. One research analyst rated the stock with a sell rating, five gave the company’s stock a hold rating and three gave the company’s stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.38.
About Columbia Sportswear
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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