California Public Employees Retirement System Reduces Stake in Columbia Sportswear (COLM)

California Public Employees Retirement System trimmed its position in Columbia Sportswear (NASDAQ:COLM) by 1.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 87,501 shares of the textile maker’s stock after selling 1,454 shares during the period. California Public Employees Retirement System’s holdings in Columbia Sportswear were worth $9,116,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in COLM. State Board of Administration of Florida Retirement System increased its holdings in Columbia Sportswear by 49.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 32,286 shares of the textile maker’s stock valued at $3,364,000 after purchasing an additional 10,747 shares during the period. Victory Capital Management Inc. acquired a new stake in Columbia Sportswear in the first quarter valued at $2,869,000. Stevens Capital Management LP acquired a new stake in Columbia Sportswear in the first quarter valued at $3,852,000. Harfst & Associates Inc. increased its holdings in Columbia Sportswear by 14.5% in the first quarter. Harfst & Associates Inc. now owns 7,781 shares of the textile maker’s stock valued at $810,000 after purchasing an additional 987 shares during the period. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in Columbia Sportswear in the first quarter valued at $7,085,000. Institutional investors own 37.66% of the company’s stock.

Shares of Columbia Sportswear stock opened at $97.12 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.41 and a quick ratio of 2.33. Columbia Sportswear has a 1-year low of $80.03 and a 1-year high of $109.74. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 2.42 and a beta of 0.64.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.23. Columbia Sportswear had a return on equity of 17.89% and a net margin of 10.43%. The firm had revenue of $654.61 million during the quarter, compared to the consensus estimate of $646.77 million. During the same period last year, the business posted $0.77 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Columbia Sportswear will post 4.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.96 dividend on an annualized basis and a yield of 0.99%. Columbia Sportswear’s payout ratio is currently 23.94%.

A number of analysts recently weighed in on COLM shares. BidaskClub downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Citigroup started coverage on Columbia Sportswear in a report on Tuesday, April 16th. They issued a “buy” rating for the company. ValuEngine downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Wedbush increased their price objective on Columbia Sportswear from $111.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, Pivotal Research reiterated a “buy” rating and set a $112.00 price target (up from $107.00) on shares of Columbia Sportswear in a report on Tuesday, February 5th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $108.93.

In other news, Director Walter Klenz sold 6,754 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $105.87, for a total value of $715,045.98. Following the completion of the sale, the director now directly owns 15,678 shares in the company, valued at approximately $1,659,829.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward S. George sold 5,630 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $105.19, for a total value of $592,219.70. Following the completion of the sale, the director now owns 7,630 shares of the company’s stock, valued at $802,599.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,621 shares of company stock valued at $4,093,630. 56.57% of the stock is currently owned by company insiders.

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Columbia Sportswear Company 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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Institutional Ownership by Quarter for Columbia Sportswear (NASDAQ:COLM)

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