Lmcg Investments LLC acquired a new stake in shares of Columbia Sportswear (NASDAQ:COLM – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,270 shares of the textile maker’s stock, valued at approximately $1,473,000.
Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in Columbia Sportswear during the 1st quarter worth about $27,000. Fox Run Management L.L.C. bought a new stake in Columbia Sportswear in the first quarter valued at $442,000. Oak Thistle LLC bought a new stake in Columbia Sportswear in the first quarter valued at $525,000. Treasurer of the State of North Carolina grew its position in Columbia Sportswear by 1.6% in the first quarter. Treasurer of the State of North Carolina now owns 14,430 shares of the textile maker’s stock valued at $1,306,000 after acquiring an additional 225 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Columbia Sportswear by 233.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 716 shares of the textile maker’s stock valued at $65,000 after acquiring an additional 501 shares during the period. 48.65% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have weighed in on COLM. Cowen lowered their price target on Columbia Sportswear to $95.00 in a research report on Monday, July 25th. Citigroup reduced their price objective on Columbia Sportswear from $98.00 to $80.00 in a research note on Thursday, July 28th. Stifel Nicolaus reduced their price objective on Columbia Sportswear from $100.00 to $81.00 in a research note on Wednesday, July 20th. Robert W. Baird reduced their price objective on Columbia Sportswear from $85.00 to $82.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Finally, Cowen cut their price target on Columbia Sportswear from $116.00 to $100.00 in a research note on Friday, May 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.38.
Columbia Sportswear Price Performance
Columbia Sportswear (NASDAQ:COLM – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The textile maker reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Columbia Sportswear had a return on equity of 17.87% and a net margin of 10.13%. The business had revenue of $578.06 million during the quarter, compared to the consensus estimate of $592.35 million. During the same period last year, the company earned $0.61 earnings per share. Columbia Sportswear’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Columbia Sportswear will post 5.18 EPS for the current fiscal year.
Columbia Sportswear Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. Columbia Sportswear’s payout ratio is 23.76%.
Columbia Sportswear Company Profile
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor, active, and everyday 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 in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel.
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