Strs Ohio boosted its position in Columbia Sportswear (NASDAQ:COLM) by 19.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,088 shares of the textile maker’s stock after purchasing an additional 983 shares during the period. Strs Ohio’s holdings in Columbia Sportswear were worth $566,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in COLM. Swiss National Bank lifted its position in shares of Columbia Sportswear by 12.8% during the 2nd quarter. Swiss National Bank now owns 54,800 shares of the textile maker’s stock valued at $5,013,000 after buying an additional 6,200 shares in the last quarter. FMR LLC lifted its position in shares of Columbia Sportswear by 1.1% during the 2nd quarter. FMR LLC now owns 291,980 shares of the textile maker’s stock valued at $26,708,000 after buying an additional 3,283 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Columbia Sportswear by 73.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 17,316 shares of the textile maker’s stock valued at $1,584,000 after buying an additional 7,353 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of Columbia Sportswear during the 2nd quarter valued at about $2,180,000. Finally, Greenwood Capital Associates LLC purchased a new position in shares of Columbia Sportswear during the 2nd quarter valued at about $252,000. 39.12% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:COLM opened at $93.05 on Friday. Columbia Sportswear has a 1 year low of $62.15 and a 1 year high of $95.58. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.38 and a beta of 0.71.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Thursday, October 25th. The textile maker reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.14. Columbia Sportswear had a return on equity of 15.43% and a net margin of 5.56%. The business had revenue of $795.80 million for the quarter, compared to the consensus estimate of $791.25 million. On average, sell-side analysts expect that Columbia Sportswear will post 3.61 earnings per share for the current year.
Columbia Sportswear announced that its board has initiated a share buyback program on Monday, August 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the textile maker to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 15th will be paid a $0.24 dividend. This is an increase from Columbia Sportswear’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 1.03%. Columbia Sportswear’s payout ratio is presently 29.53%.
In other Columbia Sportswear news, Director Andy D. Bryant sold 13,274 shares of Columbia Sportswear stock in a transaction that occurred on Tuesday, October 30th. The stock was 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 of the company’s stock, valued at approximately $3,859,005. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph P. Boyle sold 1,443 shares of Columbia Sportswear stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $90.99, for a total value of $131,298.57. Following the completion of the sale, the executive vice president now directly owns 2,116,597 shares in the company, valued at approximately $192,589,161.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,935 shares of company stock worth $2,007,535. Corporate insiders own 56.68% of the company’s stock.
A number of research analysts have recently weighed in on the company. B. Riley reaffirmed a “neutral” rating and set a $84.00 price objective (up from $81.00) on shares of Columbia Sportswear in a research report on Wednesday, July 18th. Robert W. Baird boosted their price target on Columbia Sportswear from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, July 24th. FBR & Co cut Columbia Sportswear from an “outperform” rating to a “$93.43” rating and set a $84.00 price target on the stock. in a report on Wednesday, July 18th. Pivotal Research cut Columbia Sportswear from a “buy” rating to a “hold” rating and boosted their price target for the stock from $95.00 to $96.00 in a report on Wednesday, July 25th. Finally, BidaskClub cut Columbia Sportswear from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $90.18.
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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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