MML Investors Services LLC Takes Position in Columbia Sportswear (COLM)

MML Investors Services LLC purchased a new position in Columbia Sportswear (NASDAQ:COLM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,069 shares of the textile maker’s stock, valued at approximately $565,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC raised its stake 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 buying an additional 788 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Columbia Sportswear by 199.8% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,732 shares of the textile maker’s stock valued at $1,836,000 after buying an additional 13,150 shares during the last quarter. WINTON GROUP Ltd raised its stake in shares of Columbia Sportswear by 27.1% during the 3rd quarter. WINTON GROUP Ltd now owns 12,694 shares of the textile maker’s stock valued at $1,181,000 after buying an additional 2,703 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Columbia Sportswear by 2.6% during the 3rd quarter. American Century Companies Inc. now owns 78,965 shares of the textile maker’s stock valued at $7,349,000 after buying an additional 2,000 shares during the last quarter. Finally, Cadence Capital Management LLC purchased a new position in shares of Columbia Sportswear during the 3rd quarter valued at about $1,377,000. Hedge funds and other institutional investors own 38.70% of the company’s stock.

In related news, Director Sarah Bany sold 19,946 shares of Columbia Sportswear stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $88.91, for a total value of $1,773,398.86. Following the sale, the director now directly owns 11,610 shares in the company, valued at approximately $1,032,245.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy D. Bryant sold 13,274 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $91.75, for a total value of $1,217,889.50. Following the transaction, the director now owns 42,060 shares in the company, valued at $3,859,005. The disclosure for this sale can be found here. 56.68% of the stock is owned by insiders.

COLM has been the subject of a number of recent research reports. Buckingham Research lifted their price objective on Columbia Sportswear from $84.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 17th. Pivotal Research lifted their price objective on Columbia Sportswear from $94.00 to $97.00 in a research note on Monday, October 29th. Macquarie set a $106.00 price objective on Columbia Sportswear and gave the company a “hold” rating in a research note on Friday, October 26th. Stifel Nicolaus upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and lifted their price objective for the company from $93.00 to $103.00 in a research note on Friday, October 26th. Finally, BidaskClub lowered Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Columbia Sportswear currently has a consensus rating of “Buy” and an average target price of $90.76.

Shares of Columbia Sportswear stock opened at $91.33 on Monday. Columbia Sportswear has a twelve month low of $67.32 and a twelve month high of $95.58. The stock has a market capitalization of $6.30 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 2.33 and a beta of 0.71.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, October 25th. The textile maker reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.14. Columbia Sportswear had a return on equity of 15.43% and a net margin of 5.56%. The firm had revenue of $795.80 million during the quarter, compared to analyst estimates of $791.25 million. As a group, research analysts forecast that Columbia Sportswear will post 3.61 earnings per share for the current year.

Columbia Sportswear declared that its board has approved a share repurchase plan on Monday, August 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the textile maker to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 15th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, November 14th. This is a positive change from Columbia Sportswear’s previous quarterly dividend of $0.22. Columbia Sportswear’s payout ratio is currently 32.21%.

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Columbia Sportswear 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, 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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Institutional Ownership by Quarter for Columbia Sportswear (NASDAQ:COLM)

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