Texas Teachers’ Retirement System Boosts Columbia Sportswear Stock Holdings (NASDAQ:COLM)

Teacher Retirement System of Texas increased its position in shares of Columbia Sportswear (NASDAQ:COLMGet a rating) by 5.1% in the 1st quarter, according to the company in its most recent communication to the Securities & Exchange Commission. The company held 7,394 shares of the textile maker after buying an additional 359 shares during the period. Teacher Retirement System of Texas’ holdings of Columbia Sportswear were worth $669,000 when it last filed with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also changed their holdings in the company. Boston Trust Walden Corp increased its stake in Columbia Sportswear by 64.9% in the first quarter. Boston Trust Walden Corp now owns 965,434 shares of the textile maker valued at $87,401,000 after buying an additional 380,140 shares during the period. JPMorgan Chase & Co. increased its stake in Columbia Sportswear 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 buying an additional 366,034 shares during the period. Los Angeles Capital Management LLC bought a new position in Columbia Sportswear in the first quarter worth $21,170,000. Marshall Wace LLP increased its holdings in Columbia Sportswear by 3,353.7% in the fourth quarter. Marshall Wace LLP now owns 236,719 shares of the textile maker valued at $23,065,000 after purchasing an additional 229,865 shares during the period. Finally, American Century Companies Inc. increased its stake in Columbia Sportswear by 6,661.8% in the fourth quarter. American Century Companies Inc. now owns 227,806 shares of the textile maker valued at $22,197,000 after purchasing an additional 224,437 shares during the period. 48.65% of the shares are currently held by hedge funds and other institutional investors.

Analysts set new price targets

A number of analysts have published reports on the company. Cowen cut his price target on Columbia Sportswear to $95.00 in a Monday, July 25 report. UBS Group reduced its price target on Columbia Sportswear from $83.00 to $80.00 and set a “neutral” rating for the company in a Thursday, July 28 report. TheStreet downgraded Columbia Sportswear from a “b” rating to a “c+” rating in a Thursday, April 28 report. Bank of America downgraded Columbia Sportswear from a “neutral” rating to an “underperforming” rating and lowered its price target for the stock from $108.00 to $80.00 in a Friday, April 29 report . To finish, StockNews.com moved Columbia Sportswear from a “buy” rating to a “hold” rating in a Friday, Aug. 5 research report. One research analyst has assigned the stock a sell rating, five have assigned a hold rating and three have assigned the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $89.38.

Columbia Sportswear is trading down 2.0%

Shares of COLM opened at $75.88 on Friday. Columbia Sportswear has a twelve month low of $68.29 and a twelve month high of $107.50. The stock’s 50-day moving average is $74.07 and its two-hundred-day moving average is $82.34. The company has a market capitalization of $4.77 billion, a PE ratio of 15.03, a P/E/G ratio of 1.84 and a beta of 0.89.

Columbia Sportswear (NASDAQ:COLMGet a rating) last reported quarterly earnings data 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 return on equity of 17.87% and a net margin of 10.13%. The company posted revenue of $578.06 million for the quarter, versus analyst estimates of $592.35 million. In the same quarter of the previous year, the company achieved EPS of $0.61. The company’s revenue for the quarter increased by 2.1% compared to the same quarter last year. On average, sell-side analysts expect Columbia Sportswear to post EPS of 5.18 for the current year.

Columbia Sportswear Announces Dividend

The company also recently disclosed 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. This represents a dividend of $1.20 on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, August 16. Columbia Sportswear’s dividend payout ratio is currently 23.76%.

About Columbia Sportswear

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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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Institutional ownership by quarter for Columbia Sportswear (NASDAQ:COLM)

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About Lonnie G. Mitchell

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