Wells Fargo & Company MN grew its position in Columbia Sportswear (NASDAQ:COLM) by 15.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,239 shares of the textile maker’s stock after purchasing an additional 20,560 shares during the quarter. Wells Fargo & Company MN owned approximately 0.22% of Columbia Sportswear worth $9,314,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in COLM. Ameritas Investment Partners Inc. raised its holdings in shares of 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 in the last quarter. Advisor Group Inc. raised its position in shares of Columbia Sportswear by 11.2% in the second quarter. Advisor Group Inc. now owns 3,364 shares of the textile maker’s stock valued at $195,000 after buying an additional 339 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Columbia Sportswear in the second quarter valued at approximately $214,000. Tudor Investment Corp ET AL purchased a new stake in Columbia Sportswear in the second quarter valued at approximately $235,000. Finally, Quantbot Technologies LP purchased a new stake in Columbia Sportswear in the second quarter valued at approximately $239,000. Institutional investors and hedge funds own 38.80% of the company’s stock.
A number of equities research analysts recently issued reports on COLM shares. Robert W. Baird restated a “buy” rating and issued a $68.00 target price on shares of Columbia Sportswear in a report on Sunday, September 17th. DA Davidson set a $77.00 price target on shares of Columbia Sportswear and gave the company a “buy” rating in a report on Tuesday, December 5th. B. Riley reaffirmed a “buy” rating on shares of Columbia Sportswear in a report on Wednesday, November 1st. Pivotal Research reaffirmed a “buy” rating and issued a $74.00 price target (up from $72.00) on shares of Columbia Sportswear in a report on Friday, October 27th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $68.00 price target on shares of Columbia Sportswear in a report on Friday, October 27th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Columbia Sportswear currently has an average rating of “Buy” and an average price target of $69.14.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Thursday, October 26th. The textile maker reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. The business had revenue of $747.37 million during the quarter, compared to analyst estimates of $735.67 million. Columbia Sportswear had a net margin of 8.18% and a return on equity of 12.30%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 earnings per share. research analysts anticipate that Columbia Sportswear will post 2.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, November 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.06%. This is a positive change from Columbia Sportswear’s previous quarterly dividend of $0.18. Columbia Sportswear’s dividend payout ratio is currently 27.24%.
In related news, Director Walter Klenz sold 11,608 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $66.05, for a total value of $766,708.40. Following the completion of the transaction, the director now owns 21,619 shares in the company, valued at approximately $1,427,934.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Malia H. Wasson sold 900 shares of the 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 owns 1,089 shares of the company’s stock, valued at approximately $67,169.52. The disclosure for this sale can be found here. 58.86% of the stock is currently owned by corporate insiders.
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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