TimesSquare Capital Management LLC lowered its stake in Columbia Sportswear Company (NASDAQ:COLM) by 25.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 494,700 shares of the textile maker’s stock after selling 172,200 shares during the period. TimesSquare Capital Management LLC’s holdings in Columbia Sportswear Company were worth $29,064,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC raised its stake in Columbia Sportswear Company by 32.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 936,354 shares of the textile maker’s stock valued at $54,589,000 after buying an additional 230,403 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Columbia Sportswear Company during the fourth quarter valued at about $11,825,000. Envestnet Asset Management Inc. raised its stake in Columbia Sportswear Company by 19.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 8,027 shares of the textile maker’s stock valued at $469,000 after buying an additional 1,282 shares during the last quarter. Allianz Asset Management AG bought a new stake in Columbia Sportswear Company during the fourth quarter valued at about $256,000. Finally, Credit Agricole S A raised its stake in Columbia Sportswear Company by 15.2% in the fourth quarter. Credit Agricole S A now owns 80,375 shares of the textile maker’s stock valued at $4,686,000 after buying an additional 10,609 shares during the last quarter. Institutional investors and hedge funds own 39.43% of the company’s stock.
Columbia Sportswear Company (COLM) traded down 0.52% during trading on Tuesday, hitting $57.24. The stock had a trading volume of 94,400 shares. Columbia Sportswear Company has a 1-year low of $51.56 and a 1-year high of $63.55. The firm has a 50 day moving average price of $55.75 and a 200-day moving average price of $56.83. The firm has a market capitalization of $3.99 billion, a PE ratio of 20.59 and a beta of 0.85.
Columbia Sportswear Company (NASDAQ:COLM) last posted its quarterly earnings results on Thursday, April 27th. The textile maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.10. The company had revenue of $543.80 million for the quarter, compared to analysts’ expectations of $533.82 million. Columbia Sportswear Company had a net margin of 8.19% and a return on equity of 12.80%. Columbia Sportswear Company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. On average, equities research analysts expect that Columbia Sportswear Company will post $2.80 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Thursday, May 18th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.25%. Columbia Sportswear Company’s dividend payout ratio is 25.99%.
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Several analysts recently issued reports on the company. Canaccord Genuity lowered Columbia Sportswear Company from a “buy” rating to a “hold” rating and dropped their target price for the stock from $64.00 to $60.00 in a report on Friday, April 28th. B. Riley reissued a “neutral” rating and set a $61.00 price target on shares of Columbia Sportswear Company in a research report on Tuesday, April 25th. Zacks Investment Research raised Columbia Sportswear Company from a “sell” rating to a “hold” rating in a research report on Monday, April 3rd. Wedbush boosted their price target on Columbia Sportswear Company from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 21st. Finally, Forward View downgraded Columbia Sportswear Company from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $64.42.
In related news, Director Edward S. George sold 1,776 shares of Columbia Sportswear Company stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $53.59, for a total value of $95,175.84. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $107,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas B. Cusick sold 30,000 shares of Columbia Sportswear Company stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $58.50, for a total transaction of $1,755,000.00. Following the completion of the transaction, the executive vice president now owns 47,326 shares of the company’s stock, valued at $2,768,571. The disclosure for this sale can be found here. Insiders sold a total of 205,908 shares of company stock valued at $11,910,370 over the last quarter. 58.86% of the stock is owned by company insiders.
Columbia Sportswear Company 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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