King Luther Capital Management Corp trimmed its position in shares of Columbia Sportswear (NASDAQ:COLM) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 47,866 shares of the textile maker’s stock after selling 2,280 shares during the period. King Luther Capital Management Corp’s holdings in Columbia Sportswear were worth $4,455,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Martingale Asset Management L P raised its position in shares of Columbia Sportswear by 1.3% during the 2nd quarter. Martingale Asset Management L P now owns 50,836 shares of the textile maker’s stock valued at $4,650,000 after purchasing an additional 630 shares during the period. Aperio Group LLC raised its position in shares of Columbia Sportswear by 7.7% during the 2nd quarter. Aperio Group LLC now owns 10,236 shares of the textile maker’s stock valued at $936,000 after purchasing an additional 735 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Columbia Sportswear by 33.6% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,134 shares of the textile maker’s stock valued at $290,000 after purchasing an additional 788 shares during the period. Principal Financial Group Inc. raised its position in shares of Columbia Sportswear by 29.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,119 shares of the textile maker’s stock valued at $315,000 after purchasing an additional 936 shares during the period. Finally, Strs Ohio raised its position in shares of Columbia Sportswear by 19.3% during the 3rd quarter. Strs Ohio now owns 6,088 shares of the textile maker’s stock valued at $566,000 after purchasing an additional 983 shares during the period. Hedge funds and other institutional investors own 38.70% of the company’s stock.
In other Columbia Sportswear news, Director Sarah Bany sold 19,946 shares of Columbia Sportswear stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $88.91, for a total value of $1,773,398.86. Following the completion of the transaction, the director now directly owns 11,610 shares of the company’s stock, valued at approximately $1,032,245.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy D. Bryant sold 13,274 shares of Columbia Sportswear stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $91.75, for a total transaction of $1,217,889.50. Following the completion of the transaction, the director now directly owns 42,060 shares of the company’s stock, valued at $3,859,005. The disclosure for this sale can be found here. Company insiders own 56.68% of the company’s stock.
Several brokerages have recently commented on COLM. Citigroup raised their price objective on shares of Columbia Sportswear from $106.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, December 3rd. Pivotal Research upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating and raised their price objective for the company from $97.00 to $107.00 in a research report on Thursday. Wedbush reiterated an “outperform” rating and issued a $104.00 price target on shares of Columbia Sportswear in a report on Tuesday, November 13th. BidaskClub upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Finally, Cowen upgraded shares of Columbia Sportswear from a “market perform” rating to an “outperform” rating and set a $59.00 price target on the stock in a report on Wednesday, August 15th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $92.29.
Shares of NASDAQ COLM opened at $88.37 on Friday. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 2.35 and a beta of 0.71. Columbia Sportswear has a 52-week low of $67.32 and a 52-week high of $95.74.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, October 25th. The textile maker reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.14. Columbia Sportswear had a net margin of 5.56% and a return on equity of 15.43%. The company had revenue of $795.80 million for the quarter, compared to the consensus estimate of $791.25 million. On average, equities research analysts predict that Columbia Sportswear will post 3.61 earnings per share for the current year.
The firm 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 a boost from Columbia Sportswear’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, November 14th. Columbia Sportswear’s dividend payout ratio (DPR) is presently 32.21%.
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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.
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