Rhumbline Advisers lessened its stake in shares of Columbia Sportswear (NASDAQ:COLM) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,262 shares of the textile maker’s stock after selling 1,795 shares during the period. Rhumbline Advisers’ holdings in Columbia Sportswear were worth $2,677,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Clinton Group Inc. increased its stake in shares of Columbia Sportswear by 263.6% in the 2nd quarter. Clinton Group Inc. now owns 57,549 shares of the textile maker’s stock valued at $5,264,000 after purchasing an additional 41,722 shares during the last quarter. James Investment Research Inc. bought a new position in shares of Columbia Sportswear in the 2nd quarter valued at $2,180,000. Schwab Charles Investment Management Inc. increased its stake in shares of Columbia Sportswear by 4.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 257,101 shares of the textile maker’s stock valued at $19,651,000 after purchasing an additional 11,152 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Columbia Sportswear by 4.2% in the 1st quarter. Guggenheim Capital LLC now owns 19,031 shares of the textile maker’s stock valued at $1,454,000 after purchasing an additional 773 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Columbia Sportswear by 29.4% in the 1st quarter. Principal Financial Group Inc. now owns 4,119 shares of the textile maker’s stock valued at $315,000 after purchasing an additional 936 shares during the last quarter. Hedge funds and other institutional investors own 39.08% of the company’s stock.
NASDAQ COLM opened at $92.57 on Tuesday. Columbia Sportswear has a twelve month low of $57.50 and a twelve month high of $95.58. The firm has a market cap of $6.35 billion, a P/E ratio of 26.00, a PEG ratio of 2.41 and a beta of 0.78.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Thursday, July 26th. The textile maker reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.26. Columbia Sportswear had a return on equity of 14.79% and a net margin of 5.19%. The company had revenue of $481.62 million for the quarter, compared to the consensus estimate of $453.27 million. During the same quarter last year, the business posted ($0.17) EPS. Columbia Sportswear’s revenue for the quarter was up 20.7% on a year-over-year basis. research analysts forecast that Columbia Sportswear will post 3.47 earnings per share for the current year.
Columbia Sportswear announced that its board has authorized a stock buyback plan on Monday, August 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the textile maker to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 30th. Investors of record on Thursday, August 16th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Wednesday, August 15th. Columbia Sportswear’s dividend payout ratio (DPR) is 29.53%.
In related news, Director Edward S. George sold 5,030 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $91.30, for a total transaction of $459,239.00. Following the sale, the director now owns 7,030 shares of the company’s stock, valued at approximately $641,839. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Douglas H. Morse sold 688 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $91.00, for a total value of $62,608.00. Following the sale, the senior vice president now directly owns 460 shares in the company, valued at approximately $41,860. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,661 shares of company stock worth $789,646. 56.68% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on COLM shares. Buckingham Research lifted their price target on Columbia Sportswear from $80.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, August 16th. BidaskClub lowered Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. DA Davidson lowered Columbia Sportswear from a “buy” rating to a “neutral” rating and set a $96.00 price target on the stock. in a research note on Monday, July 16th. Wedbush reiterated an “outperform” rating on shares of Columbia Sportswear in a research note on Tuesday, June 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $98.00 price target on shares of Columbia Sportswear in a research note on Friday, July 27th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Columbia Sportswear presently has an average rating of “Hold” and an average target price of $87.44.
Columbia Sportswear Company Profile
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active 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 that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.
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