Legal & General Group Plc boosted its stake in Columbia Sportswear (NASDAQ:COLM) by 27.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,550 shares of the textile maker’s stock after buying an additional 2,954 shares during the period. Legal & General Group Plc’s holdings in Columbia Sportswear were worth $1,239,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in COLM. Acadian Asset Management LLC increased its position in shares of Columbia Sportswear by 158.4% during the second quarter. Acadian Asset Management LLC now owns 767,272 shares of the textile maker’s stock valued at $70,182,000 after acquiring an additional 470,349 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Columbia Sportswear by 41.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 509,997 shares of the textile maker’s stock worth $38,979,000 after purchasing an additional 150,337 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Columbia Sportswear by 11,253.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 399,884 shares of the textile maker’s stock worth $36,577,000 after purchasing an additional 396,362 shares during the period. Millennium Management LLC boosted its stake in shares of Columbia Sportswear by 345.5% during the 1st quarter. Millennium Management LLC now owns 220,618 shares of the textile maker’s stock worth $16,862,000 after acquiring an additional 171,098 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Columbia Sportswear by 1.8% during the 2nd quarter. Wells Fargo & Company MN now owns 120,936 shares of the textile maker’s stock worth $11,062,000 after acquiring an additional 2,124 shares during the last quarter. Hedge funds and other institutional investors own 38.27% of the company’s stock.
In related news, Director Edward S. George sold 5,030 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $91.30, for a total transaction of $459,239.00. Following the completion of the sale, the director now owns 7,030 shares of the company’s stock, valued at $641,839. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph P. Boyle sold 1,443 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $90.99, for a total transaction of $131,298.57. Following the sale, the executive vice president now directly owns 2,116,597 shares of the company’s stock, valued at approximately $192,589,161.03. The disclosure for this sale can be found here. Insiders sold a total of 8,661 shares of company stock worth $789,646 over the last 90 days. Insiders own 56.68% of the company’s stock.
Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Thursday, October 25th. The textile maker reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.14. The business had revenue of $795.80 million for the quarter, compared to the consensus estimate of $791.25 million. Columbia Sportswear had a net margin of 5.56% and a return on equity of 15.46%. As a group, analysts predict that Columbia Sportswear will post 3.54 earnings per share for the current fiscal year.
Columbia Sportswear announced that its board has approved a share buyback plan on Monday, August 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the textile maker to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 15th will be paid a $0.24 dividend. This is an increase from Columbia Sportswear’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 14th. Columbia Sportswear’s dividend payout ratio is currently 29.53%.
Several research analysts have recently weighed in on COLM shares. Pivotal Research lifted their price target on shares of Columbia Sportswear from $94.00 to $97.00 in a research note on Monday. FBR & Co cut shares of Columbia Sportswear from an “outperform” rating to a “$93.43” rating and set a $84.00 target price on the stock. in a research note on Wednesday, July 18th. BidaskClub cut shares of Columbia Sportswear from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Citigroup boosted their price target on shares of Columbia Sportswear from $94.00 to $106.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $98.00 price target on shares of Columbia Sportswear in a research note on Friday, July 27th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Columbia Sportswear presently has a consensus rating of “Hold” and an average price target of $90.18.
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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