Voya Investment Management LLC grew its holdings in Columbia Sportswear (NASDAQ:COLM) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,657 shares of the textile maker’s stock after purchasing an additional 1,837 shares during the quarter. Voya Investment Management LLC’s holdings in Columbia Sportswear were worth $4,327,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. Cullen Frost Bankers Inc. acquired a new stake in shares of Columbia Sportswear in the third quarter valued at $47,000. Financial Gravity Wealth Inc. lifted its position in Columbia Sportswear by 4,581.8% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 515 shares of the textile maker’s stock worth $52,000 after buying an additional 504 shares in the last quarter. Private Capital Group LLC lifted its position in Columbia Sportswear by 46.7% during the 2nd quarter. Private Capital Group LLC now owns 531 shares of the textile maker’s stock worth $49,000 after buying an additional 169 shares in the last quarter. Quest Capital Management Inc. ADV bought a new stake in Columbia Sportswear during the 3rd quarter worth about $60,000. Finally, Meeder Asset Management Inc. bought a new stake in Columbia Sportswear during the 2nd quarter worth about $102,000. 37.82% of the stock is currently owned by institutional investors.
In other news, Director Sarah Bany sold 10,663 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $91.61, for a total value of $976,837.43. Following the transaction, the director now directly owns 1,154,136 shares in the company, valued at approximately $105,730,398.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gertrude Boyle Trust sold 90,255 shares of Columbia Sportswear stock in a transaction on Monday, November 18th. The stock was sold at an average price of $92.36, for a total value of $8,335,951.80. Following the sale, the insider now directly owns 9,014,559 shares of the company’s stock, valued at $832,584,669.24. The disclosure for this sale can be found here. Insiders sold 540,000 shares of company stock worth $49,419,456 over the last 90 days. 56.57% of the stock is currently owned by company insiders.
Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Wednesday, October 30th. The textile maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.20. The company had revenue of $906.80 million for the quarter, compared to the consensus estimate of $883.31 million. Columbia Sportswear had a net margin of 10.97% and a return on equity of 19.14%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. Sell-side analysts predict that Columbia Sportswear will post 4.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Wednesday, November 20th. Columbia Sportswear’s dividend payout ratio (DPR) is 23.94%.
Several research firms have weighed in on COLM. Zacks Investment Research upgraded shares of Columbia Sportswear from a “hold” rating to a “strong-buy” rating and set a $106.00 price objective for the company in a research report on Monday, October 21st. ValuEngine upgraded shares of Columbia Sportswear from a “sell” rating to a “hold” rating in a research report on Tuesday. Wedbush reissued an “outperform” rating on shares of Columbia Sportswear in a research note on Monday, October 7th. Pivotal Research lowered their price target on shares of Columbia Sportswear from $125.00 to $117.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, DA Davidson lowered shares of Columbia Sportswear from a “buy” rating to a “neutral” rating and lowered their price target for the company from $129.00 to $96.00 in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $116.17.
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 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.
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