Swiss National Bank raised its stake in Columbia Sportswear (NASDAQ:COLM) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 57,100 shares of the textile maker’s stock after buying an additional 500 shares during the period. Swiss National Bank’s holdings in Columbia Sportswear were worth $5,719,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. lifted its position in shares of Columbia Sportswear by 4,581.8% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 515 shares of the textile maker’s stock worth $52,000 after purchasing an additional 504 shares during the period. Quadrant Capital Group LLC purchased a new stake in shares of Columbia Sportswear in the 1st quarter worth approximately $61,000. Machina Capital S.A.S. lifted its position in shares of Columbia Sportswear by 17.9% in the 2nd quarter. Machina Capital S.A.S. now owns 1,000 shares of the textile maker’s stock worth $100,000 after purchasing an additional 152 shares during the period. Anderson Fisher LLC purchased a new stake in shares of Columbia Sportswear in the 1st quarter worth approximately $111,000. Finally, Whittier Trust Co. purchased a new stake in shares of Columbia Sportswear in the 1st quarter worth approximately $156,000. 39.15% of the stock is owned by institutional investors.
NASDAQ:COLM opened at $93.62 on Thursday. Columbia Sportswear has a 52 week low of $80.03 and a 52 week high of $109.74. The firm has a 50 day moving average of $99.87 and a 200 day moving average of $100.68. The company has a quick ratio of 1.57, a current ratio of 2.88 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.80 and a beta of 0.67.
Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, July 25th. The textile maker reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.22. Columbia Sportswear had a net margin of 10.73% and a return on equity of 18.14%. The company had revenue of $526.21 million during the quarter, compared to analysts’ expectations of $507.16 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. Columbia Sportswear’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts expect that Columbia Sportswear will post 4.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.96 dividend on an annualized basis and a yield of 1.03%. Columbia Sportswear’s payout ratio is 23.94%.
In other Columbia Sportswear news, COO Thomas B. Cusick sold 17,260 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $107.77, for a total transaction of $1,860,110.20. Following the transaction, the chief operating officer now owns 43,214 shares in the company, valued at approximately $4,657,172.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas H. Morse sold 2,620 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $105.00, for a total transaction of $275,100.00. Following the transaction, the senior vice president now owns 3,553 shares in the company, valued at approximately $373,065. The disclosure for this sale can be found here. Insiders have sold a total of 78,938 shares of company stock worth $8,461,381 in the last 90 days. 56.57% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on COLM. Pivotal Research reaffirmed a “buy” rating and issued a $125.00 price target (up previously from $120.00) on shares of Columbia Sportswear in a research report on Friday, July 26th. B. Riley set a $109.00 price target on shares of Columbia Sportswear and gave the stock a “hold” rating in a research report on Tuesday, August 20th. ValuEngine cut shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus set a $129.00 target price on shares of Columbia Sportswear and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Wedbush increased their target price on shares of Columbia Sportswear from $118.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $118.00.
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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