Meeder Asset Management Inc. acquired a new stake in Columbia Sportswear (NASDAQ:COLM – Get a rating) in Q1, according to the company in its latest 13F filing with the SEC. The company acquired 294 shares of the textile maker, valued at around $27,000.
Several other hedge funds have also recently changed their stock holdings. Atlanta Capital Management Co. LLC increased its holdings of Columbia Sportswear stock by 3.5% in the fourth quarter. Atlanta Capital Management Co. LLC now owns 3,104,900 shares of the textile maker valued at $302,541,000 after acquiring 104,451 additional shares last quarter. JPMorgan Chase & Co. increased its holdings of Columbia Sportswear shares by 36.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,374,952 shares of the textile maker valued at $133,975,000 after acquiring 366,034 additional shares last quarter. Boston Trust Walden Corp increased its holdings of Columbia Sportswear shares 64.9% in Q1. Boston Trust Walden Corp now owns 965,434 shares of the textile maker valued at $87,401,000 after acquiring an additional 380,140 shares last quarter. State Street Corp increased its holdings of Columbia Sportswear shares by 2.7% in the fourth quarter. State Street Corp now owns 930,428 shares of the textile maker valued at $90,661,000 after acquiring an additional 24,224 shares last quarter. Finally, Dimensional Fund Advisors LP increased its holdings of Columbia Sportswear shares by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 671,080 shares of the textile maker valued at $65,391,000 after acquiring 11,596 additional shares last quarter. Institutional investors hold 48.65% of the company’s shares.
Columbia Sportswear trades up 1.2%
NASDAQ COLM opened at $74.65 on Thursday. Columbia Sportswear has a 1-year minimum of $68.29 and a 1-year maximum of $107.50. The company has a 50-day moving average of $74.20 and a 200-day moving average of $82.03. The company has a market capitalization of $4.69 billion, a price-earnings ratio of 14.78, a PEG ratio of 1.75 and a beta of 0.89.
Columbia Sportswear (NASDAQ:COLM – Get a rating) last released its quarterly results on Wednesday, July 27. The textile maker reported earnings per share of $0.11 for the quarter, beating analysts’ consensus estimate of $0.04 by $0.07. Columbia Sportswear had a net margin of 10.13% and a return on equity of 17.87%. The company posted revenue of $578.06 million in the quarter, versus a consensus estimate of $592.35 million. In the same period a year earlier, the company had earned earnings per share of $0.61. The company’s quarterly revenue increased 2.1% year over year. On average, stock research 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. Shareholders of record on Wednesday, August 17 will receive a dividend of $0.30. The ex-dividend date is Tuesday, August 16. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 1.61%. Columbia Sportswear’s payout ratio is 23.76%.
A Wall Street analyst gives his opinion
A number of research companies have recently commented on COLM. Bank of America downgraded Columbia Sportswear from a “neutral” to an “underperforming” rating and cut its price target for the stock from $108.00 to $80.00 in a Friday 29 report. april. Citigroup reduced its price target on Columbia Sportswear from $98.00 to $80.00 in a Thursday, July 28 report. Cowen reduced his price target on Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 report. StockNews.com moved Columbia Sportswear from a “buy” rating to a “hold” rating in a Friday, August 5, report. Finally, TheStreet upgraded Columbia Sportswear from a “b” rating to a “c+” rating in a Thursday, April 28 report. One equity research analyst gave the stock a sell rating, five gave the company a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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, the 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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