Thompson Rubinstein Investment Management Inc. OR acquired a new position in shares of Columbia Sportswear (NASDAQ:COLM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,283 shares of the textile maker’s stock, valued at approximately $238,000.
Other hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC bought a new position in Columbia Sportswear during the 3rd quarter worth $1,256,000. Martingale Asset Management L P increased its stake in shares of Columbia Sportswear by 69.6% in the 3rd quarter. Martingale Asset Management L P now owns 86,223 shares of the textile maker’s stock valued at $8,025,000 after purchasing an additional 35,387 shares during the last quarter. BlackRock Inc. increased its stake in shares of Columbia Sportswear by 9.5% in the 3rd quarter. BlackRock Inc. now owns 1,323,116 shares of the textile maker’s stock valued at $123,142,000 after purchasing an additional 114,543 shares during the last quarter. FMR LLC increased its stake in shares of Columbia Sportswear by 0.5% in the 3rd quarter. FMR LLC now owns 293,354 shares of the textile maker’s stock valued at $27,302,000 after purchasing an additional 1,374 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Columbia Sportswear in the 3rd quarter valued at $550,000. Institutional investors and hedge funds own 38.04% of the company’s stock.
Several brokerages have recently issued reports on COLM. Zacks Investment Research upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Friday, January 18th. Pivotal Research reiterated a “buy” rating and issued a $117.00 price target (up previously from $112.00) on shares of Columbia Sportswear in a research note on Tuesday. Canaccord Genuity set a $107.00 price target on Columbia Sportswear and gave the company a “hold” rating in a research note on Friday. DA Davidson lifted their price target on Columbia Sportswear to $129.00 and gave the company a “buy” rating in a research note on Friday. Finally, BidaskClub upgraded Columbia Sportswear from a “hold” rating to a “buy” rating in a research report on Thursday, February 7th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Columbia Sportswear presently has an average rating of “Buy” and an average target price of $108.53.
Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Thursday, April 25th. The textile maker reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.23. The firm had revenue of $654.61 million for the quarter, compared to the consensus estimate of $646.77 million. Columbia Sportswear had a return on equity of 16.79% and a net margin of 9.57%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. On average, analysts forecast that Columbia Sportswear will post 4.43 earnings per share for the current fiscal year.
In other Columbia Sportswear news, CAO Peter J. Bragdon sold 10,824 shares of Columbia Sportswear stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $102.80, for a total transaction of $1,112,707.20. Following the transaction, the chief accounting officer now directly owns 28,955 shares of the company’s stock, valued at approximately $2,976,574. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas B. Cusick sold 6,000 shares of Columbia Sportswear stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $102.80, for a total value of $616,800.00. Following the transaction, the chief operating officer now directly owns 38,598 shares in the company, valued at $3,967,874.40. The disclosure for this sale can be found here. Insiders have sold a total of 84,535 shares of company stock worth $8,929,236 over the last ninety days. Company insiders own 56.68% of the company’s stock.
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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 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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