Nissay Asset Management Corp Japan ADV raised its stake in shares of Columbia Sportswear (NASDAQ:COLM) by 34.5% in the second quarter, Holdings Channel reports. The institutional investor owned 25,616 shares of the textile maker’s stock after acquiring an additional 6,576 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Columbia Sportswear were worth $2,343,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COLM. Acadian Asset Management LLC raised its stake in shares of Columbia Sportswear by 158.4% during the 2nd quarter. Acadian Asset Management LLC now owns 767,272 shares of the textile maker’s stock valued at $70,182,000 after buying an additional 470,349 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Columbia Sportswear by 11,253.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 399,884 shares of the textile maker’s stock valued at $36,577,000 after purchasing an additional 396,362 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Columbia Sportswear by 4,968.5% in the 1st quarter. Prudential Financial Inc. now owns 224,688 shares of the textile maker’s stock valued at $17,173,000 after purchasing an additional 220,255 shares in the last quarter. Millennium Management LLC increased its stake in shares of Columbia Sportswear by 345.5% in the 1st quarter. Millennium Management LLC now owns 220,618 shares of the textile maker’s stock valued at $16,862,000 after purchasing an additional 171,098 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of Columbia Sportswear by 41.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 509,997 shares of the textile maker’s stock valued at $38,979,000 after purchasing an additional 150,337 shares in the last quarter. Institutional investors and hedge funds own 39.37% of the company’s stock.
In other Columbia Sportswear news, SVP Douglas H. Morse sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $91.00, for a total transaction of $136,500.00. Following the completion of the sale, the senior vice president now directly owns 2,648 shares in the company, valued at approximately $240,968. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Peter J. Bragdon sold 12,005 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $89.09, for a total value of $1,069,525.45. Following the sale, the chief accounting officer now owns 31,845 shares of the company’s stock, valued at $2,837,071.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,535 shares of company stock valued at $1,665,264. 56.68% of the stock is owned by company insiders.
NASDAQ:COLM 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 company has a market cap of $6.36 billion, a price-to-earnings ratio of 26.04, 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 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $453.27 million. During the same period in the previous year, the business earned ($0.17) EPS. Columbia Sportswear’s quarterly revenue was up 20.7% on a year-over-year basis. equities analysts anticipate that Columbia Sportswear will post 3.47 earnings per share for the current year.
Columbia Sportswear announced that its board has approved a stock buyback program on Monday, August 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the textile maker to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 30th. Shareholders of record on Thursday, August 16th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $0.88 annualized dividend and a yield of 0.96%. Columbia Sportswear’s dividend payout ratio (DPR) is currently 29.53%.
Several equities analysts recently weighed in on the company. 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. Cowen upgraded Columbia Sportswear from a “market perform” rating to an “outperform” rating and set a $59.00 price target for the company in a research note on Wednesday, August 15th. Citigroup lifted their price target on Columbia Sportswear from $94.00 to $106.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Wedbush lifted their price target on Columbia Sportswear from $100.00 to $102.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $98.00 price target on shares of Columbia Sportswear in a research note on Friday, July 27th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $87.44.
About Columbia Sportswear
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.
See Also: Outstanding Shares
Want to see what other hedge funds are holding COLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Sportswear (NASDAQ:COLM).
Receive News & Ratings for Columbia Sportswear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Sportswear and related companies with MarketBeat.com's FREE daily email newsletter.