Columbia Sportswear Company (COLM) Position Trimmed by Pacad Investment Ltd.
Pacad Investment Ltd. trimmed its position in shares of Columbia Sportswear Company (NASDAQ:COLM) by 38.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,100 shares of the textile maker’s stock after selling 1,300 shares during the period. Pacad Investment Ltd.’s holdings in Columbia Sportswear were worth $122,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Columbia Sportswear during the 1st quarter valued at $114,000. Ameritas Investment Partners Inc. acquired a new stake in Columbia Sportswear during the 1st quarter valued at $137,000. NINE MASTS CAPITAL Ltd acquired a new stake in Columbia Sportswear during the 1st quarter valued at $153,000. Creative Planning grew its holdings in Columbia Sportswear by 2.6% during the 2nd quarter. Creative Planning now owns 2,826 shares of the textile maker’s stock valued at $164,000 after purchasing an additional 72 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Columbia Sportswear by 36.1% during the 2nd quarter. US Bancorp DE now owns 3,564 shares of the textile maker’s stock valued at $207,000 after purchasing an additional 946 shares in the last quarter. 39.03% of the stock is owned by institutional investors and hedge funds.
COLM has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Columbia Sportswear from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Buckingham Research reiterated a “neutral” rating and set a $58.00 price objective on shares of Columbia Sportswear in a research note on Monday, July 17th. Canaccord Genuity set a $60.00 price objective on shares of Columbia Sportswear and gave the company a “hold” rating in a research note on Tuesday, July 25th. Cowen and Company set a $58.00 price objective on shares of Columbia Sportswear and gave the company a “hold” rating in a research note on Wednesday, July 19th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Columbia Sportswear from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $63.45.
In other news, Director Edward S. George sold 6,664 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $56.90, for a total value of $379,181.60. Following the sale, the director now owns 8,664 shares in the company, valued at approximately $492,981.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 58.86% of the stock is currently owned by insiders.
Columbia Sportswear Company (COLM) opened at 59.04 on Friday. The stock has a 50 day moving average of $58.20 and a 200-day moving average of $57.04. Columbia Sportswear Company has a 52-week low of $51.56 and a 52-week high of $63.55. The company has a market capitalization of $4.12 billion, a P/E ratio of 21.52 and a beta of 0.81.
Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Thursday, July 27th. The textile maker reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. Columbia Sportswear had a net margin of 8.01% and a return on equity of 12.31%. The company had revenue of $398.90 million for the quarter, compared to the consensus estimate of $394.53 million. During the same quarter in the previous year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Columbia Sportswear Company will post $2.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were paid a $0.18 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. Columbia Sportswear’s dividend payout ratio is presently 26.47%.
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Columbia Sportswear Company Profile
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada.
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