State of New Jersey Common Pension Fund D reduced its stake in shares of Columbia Sportswear (NASDAQ:COLM – Get Rating) by 18.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,323 shares of the textile maker’s stock after selling 5,870 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Columbia Sportswear were worth $2,305,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Ronald Blue Trust Inc. raised its position in Columbia Sportswear by 203.1% in the 3rd 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. Quadrant Capital Group LLC grew its position in shares of Columbia Sportswear by 110.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 490 shares of the textile maker’s stock worth $33,000 after buying an additional 257 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Columbia Sportswear in the 1st quarter worth approximately $45,000. Bessemer Group Inc. grew its stake in Columbia Sportswear by 1,084.0% in 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, US Bancorp DE grew its stake in Columbia Sportswear by 19.8% in the first quarter. US Bancorp DE now owns 823 shares of the textile maker’s stock worth $75,000 after purchasing an additional 136 shares during the period. 48.75% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Robert W. Baird upped their price target on Columbia Sportswear from $92.00 to $97.00 in a research note on Friday, February 3rd. Citigroup boosted their target price on Columbia Sportswear from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. Bank of America boosted their target price on Columbia Sportswear from $65.00 to $75.00 in a report on Sunday, February 5th. Piper Sandler began coverage on Columbia Sportswear in a report on Tuesday. They issued a “neutral” rating and a $92.00 target price on the stock. Finally, UBS Group dropped their target price on Columbia Sportswear from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Wednesday, March 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $88.38.
Columbia Sportswear Stock Performance
Columbia Sportswear (NASDAQ:COLM – Get Rating) last posted its earnings results on Thursday, February 2nd. The textile maker reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.17. The company had revenue of $1.17 billion for 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%. Columbia Sportswear’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.39 earnings per share. Equities analysts predict that Columbia Sportswear will post 5.36 earnings per share for the current year.
Columbia Sportswear Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 21st. Shareholders of record on Friday, March 10th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Thursday, March 9th. Columbia Sportswear’s payout ratio is 24.19%.
Columbia Sportswear Company Profile
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.
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