Shell Asset Management Co. Cuts Stock Position in Columbia Sportswear (NASDAQ:COLM)

Posted by Defense World Staff on Feb 26th, 2023

Shell Asset Management Co. cut its holdings in shares of Columbia Sportswear (NASDAQ:COLM – Get Rating) by 20.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,409 shares of the textile maker’s stock after selling 1,159 shares during the period. Shell Asset Management Co.’s holdings in Columbia Sportswear were worth $297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of COLM. Ronald Blue Trust Inc. increased its stake in Columbia Sportswear by 203.1% during the third quarter. Ronald Blue Trust Inc. now owns 391 shares of the textile maker’s stock worth $28,000 after purchasing an additional 262 shares during the period. Fifth Third Bancorp increased its stake in Columbia Sportswear by 342.4% during the second quarter. Fifth Third Bancorp now owns 438 shares of the textile maker’s stock worth $31,000 after purchasing an additional 339 shares during the period. Quadrant Capital Group LLC increased its stake in Columbia Sportswear by 110.3% during the third quarter. Quadrant Capital Group LLC now owns 490 shares of the textile maker’s stock worth $33,000 after purchasing an additional 257 shares during the period. Bessemer Group Inc. increased its stake in Columbia Sportswear by 1,084.0% during the third quarter. Bessemer Group Inc. now owns 592 shares of the textile maker’s stock worth $40,000 after purchasing an additional 542 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Columbia Sportswear during the first quarter worth about $45,000. 48.75% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Sportswear Stock Up 0.0 %

Shares of COLM opened at $87.97 on Friday. The stock has a 50 day moving average price of $90.05 and a 200 day moving average price of $81.43. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. Columbia Sportswear has a 52-week low of $65.02 and a 52-week high of $98.32.

Columbia Sportswear (NASDAQ:COLM – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The textile maker reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.17. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Columbia Sportswear had a return on equity of 18.53% and a net margin of 8.99%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.39 earnings per share. On average, equities analysts anticipate that Columbia Sportswear will post 5.38 EPS for the current fiscal year.

Columbia Sportswear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 21st. Shareholders of record on Friday, March 10th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Thursday, March 9th. Columbia Sportswear’s dividend payout ratio is currently 24.19%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on COLM shares. UBS Group boosted their price target on shares of Columbia Sportswear from $90.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, January 23rd. Citigroup boosted their price objective on Columbia Sportswear from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Cowen boosted their price objective on Columbia Sportswear to $89.00 in a research report on Tuesday, November 1st. TheStreet raised Columbia Sportswear from a “c+” rating to a “b” rating in a research report on Wednesday, November 23rd. Finally, Robert W. Baird boosted their price objective on Columbia Sportswear from $92.00 to $97.00 in a research report on Friday, February 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $87.86.

Columbia Sportswear Company Profile

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Columbia Sportswear Co engages in designing, sourcing, marketing, and distributing outdoor and active lifestyle apparel, footwear, accessories, and equipment. It operates through the following geographical segments: the United States, Latin America and Asia Pacific, Europe, Middle East, and Africa, and Canada.

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

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