Spark Investment Management LLC boosted its position in Columbia Sportswear (NASDAQ:COLM) by 41.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,100 shares of the textile maker’s stock after buying an additional 16,900 shares during the quarter. Spark Investment Management LLC’s holdings in Columbia Sportswear were worth $5,314,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado bought a new position in shares of Columbia Sportswear during the 2nd quarter worth about $104,000. Mount Yale Investment Advisors LLC bought a new position in shares of Columbia Sportswear during the 1st quarter worth about $109,000. NewSquare Capital LLC bought a new position in shares of Columbia Sportswear during the 2nd quarter worth about $165,000. Zeke Capital Advisors LLC bought a new position in shares of Columbia Sportswear during the 2nd quarter worth about $202,000. Finally, Abbrea Capital LLC bought a new position in shares of Columbia Sportswear during the 2nd quarter worth about $229,000. Institutional investors and hedge funds own 39.37% of the company’s stock.
In other news, CAO Peter J. Bragdon sold 12,005 shares of Columbia Sportswear stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $89.09, for a total transaction of $1,069,525.45. Following the completion of the sale, the chief accounting officer now owns 31,845 shares in the company, valued at approximately $2,837,071.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward S. George sold 5,030 shares of Columbia Sportswear stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 18,535 shares of company stock valued at $1,665,264 in the last 90 days. Corporate insiders own 56.68% of the company’s stock.
Shares of COLM stock opened at $91.37 on Tuesday. Columbia Sportswear has a 12-month low of $54.89 and a 12-month high of $95.58. The stock has a market cap of $6.36 billion, a P/E ratio of 30.66, a PEG ratio of 2.42 and a beta of 0.87.
Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings data on Thursday, July 26th. The textile maker reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.26. The firm had revenue of $481.62 million during the quarter, compared to analysts’ expectations of $453.27 million. Columbia Sportswear had a net margin of 5.19% and a return on equity of 14.79%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) EPS. equities analysts predict that Columbia Sportswear will post 3.47 earnings per share for the current fiscal year.
Columbia Sportswear announced that its Board of Directors has approved a stock repurchase program on Monday, August 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the textile maker to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 30th. Shareholders of record on Thursday, August 16th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.96%. The ex-dividend date is Wednesday, August 15th. Columbia Sportswear’s payout ratio is presently 29.53%.
A number of equities analysts have recently commented on COLM shares. FBR & Co downgraded shares of Columbia Sportswear from an “outperform” rating to a “$93.43” rating and set a $84.00 price objective for the company. in a report on Wednesday, July 18th. B. Riley raised their price objective on shares of Columbia Sportswear from $79.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, April 27th. DA Davidson raised their price objective on shares of Columbia Sportswear from $84.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, April 27th. Pivotal Research raised their price objective on shares of Columbia Sportswear from $83.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, April 25th. Finally, Needham & Company LLC started coverage on shares of Columbia Sportswear in a report on Monday, April 23rd. They set a “buy” rating and a $87.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $87.44.
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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