California State Teachers Retirement System cut its stake in Columbia Sportswear (NASDAQ:COLM) by 9.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,714 shares of the textile maker’s stock after selling 4,985 shares during the period. California State Teachers Retirement System owned approximately 0.07% of Columbia Sportswear worth $2,877,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its holdings in Columbia Sportswear by 10.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,563 shares of the textile maker’s stock valued at $149,000 after purchasing an additional 234 shares during the period. Advisor Group Inc. boosted its holdings in Columbia Sportswear by 11.2% in the 2nd quarter. Advisor Group Inc. now owns 3,364 shares of the textile maker’s stock valued at $195,000 after purchasing an additional 339 shares during the period. Invictus RG bought a new stake in Columbia Sportswear in the 3rd quarter valued at $207,000. Amalgamated Bank bought a new stake in Columbia Sportswear in the 2nd quarter valued at $214,000. Finally, Tudor Investment Corp ET AL bought a new stake in Columbia Sportswear in the 2nd quarter valued at $235,000. 38.68% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Malia H. Wasson sold 900 shares of Columbia Sportswear stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $61.68, for a total transaction of $55,512.00. Following the completion of the transaction, the director now directly owns 1,089 shares of the company’s stock, valued at approximately $67,169.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter Klenz sold 11,608 shares of Columbia Sportswear stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $66.05, for a total transaction of $766,708.40. Following the transaction, the director now directly owns 21,619 shares of the company’s stock, valued at $1,427,934.95. The disclosure for this sale can be found here. Company insiders own 58.86% of the company’s stock.
COLM has been the subject of a number of research reports. Robert W. Baird reissued a “buy” rating and issued a $68.00 price target on shares of Columbia Sportswear in a report on Sunday, September 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $60.00 price objective on shares of Columbia Sportswear in a report on Wednesday, October 4th. Pivotal Research began coverage on shares of Columbia Sportswear in a report on Thursday, October 5th. They set a “buy” rating and a $72.00 price objective for the company. Zacks Investment Research raised shares of Columbia Sportswear from a “sell” rating to a “hold” rating in a report on Friday, October 20th. Finally, FBR & Co reaffirmed a “buy” rating and set a $68.00 price objective on shares of Columbia Sportswear in a report on Friday, October 27th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.33.
Columbia Sportswear (COLM) opened at $73.24 on Friday. The company has a market cap of $5,080.00, a PE ratio of 26.25, a PEG ratio of 2.39 and a beta of 0.89. Columbia Sportswear has a 1-year low of $51.56 and a 1-year high of $73.59.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The company had revenue of $747.37 million during the quarter, compared to the consensus estimate of $735.67 million. Columbia Sportswear had a net margin of 8.18% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $1.18 EPS. equities analysts predict that Columbia Sportswear will post 2.7 EPS for the current year.
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Columbia Sportswear Profile
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada.
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