Public Employees Retirement System of Ohio reduced its holdings in shares of Columbia Sportswear (NASDAQ:COLM) by 21.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,929 shares of the textile maker’s stock after selling 17,033 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.09% of Columbia Sportswear worth $6,103,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its position in shares of Columbia Sportswear by 221.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 430,356 shares of the textile maker’s stock valued at $43,104,000 after buying an additional 296,619 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Columbia Sportswear by 308.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 364,100 shares of the textile maker’s stock valued at $36,468,000 after purchasing an additional 275,000 shares during the last quarter. South Texas Money Management Ltd. purchased a new stake in shares of Columbia Sportswear in the 2nd quarter valued at about $18,265,000. Marshall Wace North America L.P. boosted its position in shares of Columbia Sportswear by 726.8% in the 1st quarter. Marshall Wace North America L.P. now owns 186,536 shares of the textile maker’s stock valued at $19,433,000 after purchasing an additional 163,975 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Columbia Sportswear by 196.3% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 201,495 shares of the textile maker’s stock valued at $20,182,000 after purchasing an additional 133,492 shares during the period. Institutional investors and hedge funds own 37.68% of the company’s stock.
NASDAQ:COLM traded up $0.95 during midday trading on Wednesday, reaching $100.22. The stock had a trading volume of 65,612 shares, compared to its average volume of 272,050. The company has a quick ratio of 1.57, a current ratio of 2.88 and a debt-to-equity ratio of 0.21. The stock has a market cap of $6.71 billion, a P/E ratio of 24.99, a P/E/G ratio of 1.87 and a beta of 0.72. The firm has a fifty day simple moving average of $97.85 and a two-hundred day simple moving average of $100.02. Columbia Sportswear has a 12-month low of $80.03 and a 12-month high of $109.74.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.22. Columbia Sportswear had a net margin of 10.73% and a return on equity of 18.14%. The company had revenue of $526.21 million during the quarter, compared to the consensus estimate of $507.16 million. During the same quarter in the prior year, the firm earned $0.16 EPS. Columbia Sportswear’s quarterly revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts anticipate that Columbia Sportswear will post 4.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.96 annualized dividend and a yield of 0.96%. Columbia Sportswear’s dividend payout ratio is currently 23.94%.
In other news, COO Thomas B. Cusick sold 17,260 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $107.77, for a total transaction of $1,860,110.20. Following the completion of the transaction, the chief operating officer now directly owns 43,214 shares of the company’s stock, valued at approximately $4,657,172.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Douglas H. Morse sold 2,620 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $105.00, for a total value of $275,100.00. Following the transaction, the senior vice president now directly owns 3,553 shares of the company’s stock, valued at $373,065. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,938 shares of company stock valued at $8,461,381. 56.57% of the stock is owned by insiders.
Several research analysts have commented on COLM shares. ValuEngine lowered Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub upgraded shares of Columbia Sportswear from a “sell” rating to a “hold” rating in a research report on Wednesday. B. Riley set a $109.00 target price on shares of Columbia Sportswear and gave the company a “hold” rating in a report on Tuesday, August 20th. Stifel Nicolaus set a $129.00 price target on shares of Columbia Sportswear and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Wedbush increased their price target on shares of Columbia Sportswear from $118.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $118.00.
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 and 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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