Fort L.P. Buys Shares of 1,324 Columbia Sportswear (COLM)
Fort L.P. bought a new stake in Columbia Sportswear (NASDAQ:COLM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,324 shares of the textile maker’s stock, valued at approximately $121,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its holdings in Columbia Sportswear by 158.4% in the 2nd quarter. Acadian Asset Management LLC now owns 767,272 shares of the textile maker’s stock valued at $70,182,000 after purchasing an additional 470,349 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Columbia Sportswear by 41.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 509,997 shares of the textile maker’s stock worth $38,979,000 after acquiring an additional 150,337 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Columbia Sportswear by 11,253.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 399,884 shares of the textile maker’s stock worth $36,577,000 after acquiring an additional 396,362 shares during the period. FMR LLC lifted its holdings in shares of Columbia Sportswear by 1.1% during the 2nd quarter. FMR LLC now owns 291,980 shares of the textile maker’s stock worth $26,708,000 after acquiring an additional 3,283 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Columbia Sportswear by 4.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 257,101 shares of the textile maker’s stock worth $19,651,000 after acquiring an additional 11,152 shares during the period. Institutional investors own 38.86% of the company’s stock.
Several research analysts have recently weighed in on COLM shares. Buckingham Research increased their price objective on shares of Columbia Sportswear from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, August 16th. BidaskClub lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. DA Davidson lowered shares of Columbia Sportswear from a “buy” rating to a “neutral” rating and set a $96.00 price objective on the stock. in a report on Monday, July 16th. Wedbush reiterated an “outperform” rating on shares of Columbia Sportswear in a report on Tuesday, June 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $98.00 price objective on shares of Columbia Sportswear in a report on Friday, July 27th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $87.44.
COLM opened at $90.73 on Friday. The company has a market cap of $6.35 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 2.41 and a beta of 0.78. Columbia Sportswear has a 1 year low of $57.50 and a 1 year high of $95.58.
Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, July 26th. The textile maker reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.26. The firm had revenue of $481.62 million during the quarter, compared to the consensus estimate of $453.27 million. Columbia Sportswear had a net margin of 5.19% and a return on equity of 14.79%. The company’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. analysts expect that Columbia Sportswear will post 3.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 30th. Investors of record on Thursday, August 16th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, August 15th. Columbia Sportswear’s dividend payout ratio (DPR) is presently 29.53%.
Columbia Sportswear announced that its board has initiated a share buyback program on Monday, August 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the textile maker to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
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, 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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