Acadian Asset Management LLC grew its holdings in shares of Columbia Sportswear (NASDAQ:COLM) by 28.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 985,761 shares of the textile maker’s stock after acquiring an additional 218,489 shares during the period. Acadian Asset Management LLC owned about 1.41% of Columbia Sportswear worth $91,741,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in COLM. Robeco Institutional Asset Management B.V. grew its stake in shares of Columbia Sportswear by 143.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 973,401 shares of the textile maker’s stock valued at $89,955,000 after acquiring an additional 573,517 shares in the last quarter. Millennium Management LLC grew its stake in Columbia Sportswear by 78.3% in the second quarter. Millennium Management LLC now owns 393,306 shares of the textile maker’s stock worth $35,976,000 after purchasing an additional 172,688 shares in the last quarter. Federated Investors Inc. PA acquired a new position in Columbia Sportswear in the second quarter worth about $7,988,000. Paloma Partners Management Co acquired a new position in Columbia Sportswear in the second quarter worth about $7,656,000. Finally, First Quadrant L P CA acquired a new position in Columbia Sportswear in the second quarter worth about $7,227,000. Institutional investors own 38.27% of the company’s stock.
A number of research firms recently commented on COLM. Pivotal Research downgraded Columbia Sportswear from a “buy” rating to a “hold” rating and lifted their price target for the stock from $95.00 to $96.00 in a research note on Wednesday, July 25th. Buckingham Research lifted their price target on Columbia Sportswear from $84.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 17th. FBR & Co downgraded Columbia Sportswear from an “outperform” rating to a “$93.43” rating and set a $84.00 price target for the company. in a research note on Wednesday, July 18th. BidaskClub upgraded Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, B. Riley reiterated a “neutral” rating and issued a $84.00 price target (up from $81.00) on shares of Columbia Sportswear in a research note on Wednesday, July 18th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $90.18.
Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Thursday, October 25th. The textile maker reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.14. Columbia Sportswear had a net margin of 5.56% and a return on equity of 15.46%. The firm had revenue of $795.80 million for the quarter, compared to analysts’ expectations of $791.25 million. On average, equities analysts expect that Columbia Sportswear will post 3.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 15th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 1.06%. This is a boost from Columbia Sportswear’s previous quarterly dividend of $0.22. Columbia Sportswear’s dividend payout ratio (DPR) is currently 29.53%.
Columbia Sportswear announced that its board has authorized a share buyback plan on Monday, August 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other news, EVP Joseph P. Boyle sold 1,443 shares of Columbia Sportswear stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $90.99, for a total transaction of $131,298.57. Following the sale, the executive vice president now owns 2,116,597 shares of the company’s stock, valued at $192,589,161.03. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Douglas H. Morse sold 688 shares of Columbia Sportswear stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $91.00, for a total value of $62,608.00. Following the sale, the senior vice president now directly owns 460 shares in the company, valued at approximately $41,860. The disclosure for this sale can be found here. Insiders sold 8,661 shares of company stock worth $789,646 in the last three months. 56.68% of the stock is currently owned by corporate insiders.
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, 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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