California Public Employees Retirement System reduced its position in Columbia Sportswear Co. (NASDAQ:COLM) by 6.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,000 shares of the company’s stock after selling 5,400 shares during the period. California Public Employees Retirement System’s holdings in Columbia Sportswear were worth $4,312,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Atlanta Capital Management Co. L L C boosted its position in Columbia Sportswear by 21.9% in the second quarter. Atlanta Capital Management Co. L L C now owns 3,314,878 shares of the company’s stock worth $190,738,000 after buying an additional 594,627 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Columbia Sportswear by 19.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,098,115 shares of the company’s stock worth $63,186,000 after buying an additional 181,853 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in Columbia Sportswear by 24.7% in the second quarter. Silvercrest Asset Management Group LLC now owns 758,396 shares of the company’s stock worth $43,638,000 after buying an additional 150,132 shares in the last quarter. Bank of Montreal Can acquired a new position in Columbia Sportswear during the second quarter valued at approximately $6,368,000. Finally, Fiera Capital Corp acquired a new position in Columbia Sportswear during the second quarter valued at approximately $6,262,000. Hedge funds and other institutional investors own 37.06% of the company’s stock.
Shares of Columbia Sportswear Co. (NASDAQ:COLM) traded down 1.36% on Monday, hitting $59.59. The stock had a trading volume of 205,715 shares. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 24.71 and a beta of 0.79. The firm has a 50 day moving average price of $58.65 and a 200-day moving average price of $57.02. Columbia Sportswear Co. has a 52 week low of $43.56 and a 52 week high of $62.95.
Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Thursday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.01. The firm had revenue of $745.71 million for the quarter, compared to analyst estimates of $770.47 million. Columbia Sportswear had a return on equity of 11.42% and a net margin of 7.23%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. Analysts anticipate that Columbia Sportswear Co. will post $2.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $0.72 dividend on an annualized basis and a yield of 1.22%. This is a positive change from Columbia Sportswear’s previous quarterly dividend of $0.17. Columbia Sportswear’s dividend payout ratio (DPR) is 29.88%.
Several equities analysts have recently commented on COLM shares. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $71.00 target price on shares of Columbia Sportswear in a research note on Monday, October 10th. Brean Capital reiterated a “hold” rating on shares of Columbia Sportswear in a research note on Thursday, September 22nd. Canaccord Genuity upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and increased their target price for the company from $59.00 to $72.00 in a research note on Tuesday, September 20th. Zacks Investment Research cut Columbia Sportswear from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Finally, Guggenheim started coverage on Columbia Sportswear in a research note on Friday, September 30th. They set a “buy” rating and a $71.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.00.
In other Columbia Sportswear news, Director Sarah Bany sold 5,290 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $59.37, for a total value of $314,067.30. Following the sale, the director now owns 1,579,136 shares of the company’s stock, valued at approximately $93,753,304.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 62.12% of the stock is owned by company insiders.
Columbia Sportswear Company Profile
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor and active lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. The Company’s geographic segments are the United States, Latin America and Asia Pacific (LAAP), the Europe, Middle East and Africa (EMEA), and Canada.