Skandinaviska Enskilda Banken AB publ Takes Position in Columbia Sportswear (NASDAQ:COLM)

Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Columbia Sportswear (NASDAQ:COLM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,400 shares of the textile maker’s stock, valued at approximately $341,000.

Other hedge funds have also added to or reduced their stakes in the company. Laurion Capital Management LP purchased a new position in Columbia Sportswear in the 1st quarter worth approximately $1,289,000. Quadrant Capital Group LLC purchased a new position in Columbia Sportswear in the 1st quarter worth approximately $61,000. Allianz Asset Management GmbH raised its holdings in Columbia Sportswear by 221.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 430,356 shares of the textile maker’s stock worth $43,104,000 after acquiring an additional 296,619 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Columbia Sportswear in the 1st quarter worth approximately $2,869,000. Finally, Marshall Wace North America L.P. raised its holdings in Columbia Sportswear by 726.8% in the 1st quarter. Marshall Wace North America L.P. now owns 186,536 shares of the textile maker’s stock worth $19,433,000 after acquiring an additional 163,975 shares during the last quarter. Hedge funds and other institutional investors own 39.15% of the company’s stock.

In other news, COO Thomas B. Cusick sold 17,260 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $107.77, for a total transaction of $1,860,110.20. Following the completion of the sale, the chief operating officer now owns 43,214 shares of the company’s stock, valued at approximately $4,657,172.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Douglas H. Morse sold 2,620 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $105.00, for a total transaction of $275,100.00. Following the sale, the senior vice president now directly owns 3,553 shares of the company’s stock, valued at approximately $373,065. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,938 shares of company stock valued at $8,461,381. Insiders own 56.57% of the company’s stock.

COLM traded up $1.25 during mid-day trading on Friday, reaching $96.21. 225,512 shares of the company traded hands, compared to its average volume of 264,301. The stock has a market capitalization of $6.42 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.80 and a beta of 0.72. The company has a quick ratio of 1.57, a current ratio of 2.88 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average price is $98.36 and its 200-day moving average price is $100.16. Columbia Sportswear has a 52-week low of $80.03 and a 52-week high of $109.74.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.22. Columbia Sportswear had a net margin of 10.73% and a return on equity of 18.14%. The firm had revenue of $526.21 million during the quarter, compared to the consensus estimate of $507.16 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Columbia Sportswear will post 4.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Wednesday, August 14th. Columbia Sportswear’s payout ratio is 23.94%.

A number of equities analysts recently weighed in on the stock. Pivotal Research restated a “buy” rating and issued a $125.00 price objective (up from $120.00) on shares of Columbia Sportswear in a report on Friday, July 26th. B. Riley set a $109.00 target price on shares of Columbia Sportswear and gave the company a “hold” rating in a research note on Tuesday, August 20th. ValuEngine lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wedbush boosted their target price on shares of Columbia Sportswear from $118.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, BidaskClub lowered shares of Columbia Sportswear from a “hold” rating to a “sell” rating in a research note on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $118.00.

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 and 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.

Further Reading: What is a capital gain?

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

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