King Luther Capital Management Corp trimmed its holdings in shares of Columbia Sportswear (NASDAQ:COLM) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,866 shares of the textile maker’s stock after selling 2,280 shares during the period. King Luther Capital Management Corp owned about 0.07% of Columbia Sportswear worth $4,455,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Loomis Sayles & Co. L P increased its stake in shares of Columbia Sportswear by 3.4% during the third quarter. Loomis Sayles & Co. L P now owns 452,790 shares of the textile maker’s stock valued at $42,141,000 after purchasing an additional 15,016 shares in the last quarter. GAM Holding AG increased its stake in shares of Columbia Sportswear by 8.9% during the third quarter. GAM Holding AG now owns 14,475 shares of the textile maker’s stock valued at $1,347,000 after purchasing an additional 1,185 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Columbia Sportswear by 268.3% during the third quarter. Tower Research Capital LLC TRC now owns 1,536 shares of the textile maker’s stock valued at $143,000 after purchasing an additional 1,119 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Columbia Sportswear by 316.3% during the third quarter. Allianz Asset Management GmbH now owns 100,900 shares of the textile maker’s stock valued at $9,391,000 after purchasing an additional 76,660 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Columbia Sportswear during the third quarter valued at approximately $601,000. Institutional investors and hedge funds own 38.70% of the company’s stock.
In related news, Director Andy D. Bryant sold 13,274 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $91.75, for a total value of $1,217,889.50. Following the sale, the director now owns 42,060 shares in the company, valued at $3,859,005. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sarah Bany sold 19,946 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $88.91, for a total transaction of $1,773,398.86. Following the completion of the sale, the director now owns 11,610 shares in the company, valued at approximately $1,032,245.10. The disclosure for this sale can be found here. Corporate insiders own 56.68% of the company’s stock.
NASDAQ:COLM opened at $88.37 on Friday. Columbia Sportswear has a 52 week low of $67.32 and a 52 week high of $95.74. The company has a market cap of $6.35 billion, a PE ratio of 25.20, a PEG ratio of 2.35 and a beta of 0.71.
Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings results on Thursday, October 25th. The textile maker reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. Columbia Sportswear had a net margin of 5.56% and a return on equity of 15.43%. The firm had revenue of $795.80 million for the quarter, compared to analysts’ expectations of $791.25 million. As a group, sell-side analysts forecast that Columbia Sportswear will post 3.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.24 per share. This is a boost from Columbia Sportswear’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.09%. Columbia Sportswear’s dividend payout ratio is presently 32.21%.
A number of equities analysts have weighed in on the stock. Pivotal Research raised shares of Columbia Sportswear from a “hold” rating to a “buy” rating and raised their target price for the company from $97.00 to $107.00 in a research note on Thursday. Citigroup raised their target price on shares of Columbia Sportswear from $106.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $104.00 target price on shares of Columbia Sportswear in a research note on Tuesday, November 13th. Buckingham Research raised their target price on shares of Columbia Sportswear from $80.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, August 16th. Finally, Canaccord Genuity raised their target price on shares of Columbia Sportswear from $89.00 to $93.00 and gave the company a “hold” rating in a research note on Friday, October 26th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Columbia Sportswear has an average rating of “Buy” and an average price target of $92.29.
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Columbia Sportswear 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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