Public Employees Retirement Association of Colorado Has $448,000 Stock Position in Columbia Sportswear (NASDAQ:COLM)

Posted by Defense World Staff on Jun 11th, 2023

Public Employees Retirement Association of Colorado reduced its holdings in shares of Columbia Sportswear (NASDAQ:COLM – Get Rating) by 30.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,118 shares of the textile maker’s stock after selling 2,287 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Columbia Sportswear were worth $448,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ellevest Inc. grew its holdings in shares of Columbia Sportswear by 66.7% during the fourth quarter. Ellevest Inc. now owns 300 shares of the textile maker’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Columbia Sportswear by 110.3% during the third quarter. Quadrant Capital Group LLC now owns 490 shares of the textile maker’s stock valued at $33,000 after buying an additional 257 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Columbia Sportswear by 1,084.0% during the third quarter. Bessemer Group Inc. now owns 592 shares of the textile maker’s stock valued at $40,000 after buying an additional 542 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in shares of Columbia Sportswear by 57.0% during the fourth quarter. Ronald Blue Trust Inc. now owns 614 shares of the textile maker’s stock valued at $41,000 after buying an additional 223 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Columbia Sportswear during the first quarter valued at about $45,000. 48.75% of the stock is currently owned by institutional investors and hedge funds.

Columbia Sportswear Stock Down 0.7 %

NASDAQ COLM opened at $76.99 on Friday. The company’s 50 day moving average is $81.78 and its 200-day moving average is $86.46. Columbia Sportswear has a 12-month low of $65.02 and a 12-month high of $98.32. The firm has a market cap of $4.77 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 1.17 and a beta of 0.95.

Columbia Sportswear (NASDAQ:COLM – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The textile maker reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.14). Columbia Sportswear had a net margin of 8.25% and a return on equity of 17.10%. The business had revenue of $820.60 million during the quarter, compared to the consensus estimate of $799.71 million. During the same period last year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts expect that Columbia Sportswear will post 5.25 EPS for the current year.

Columbia Sportswear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Thursday, May 18th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.56%. Columbia Sportswear’s dividend payout ratio is currently 25.70%.

Insider Activity at Columbia Sportswear

In related news, Director Ronald E. Nelson sold 7,394 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $76.32, for a total transaction of $564,310.08. Following the completion of the transaction, the director now owns 16,857 shares of the company’s stock, valued at $1,286,526.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Columbia Sportswear news, Director Sabrina Simmons sold 982 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $82.52, for a total value of $81,034.64. Following the completion of the transaction, the director now owns 4,913 shares of the company’s stock, valued at approximately $405,420.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronald E. Nelson sold 7,394 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $76.32, for a total transaction of $564,310.08. Following the completion of the transaction, the director now directly owns 16,857 shares of the company’s stock, valued at approximately $1,286,526.24. The disclosure for this sale can be found here. 43.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COLM has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Columbia Sportswear from $92.00 to $90.00 in a research report on Friday, April 28th. TheStreet lowered shares of Columbia Sportswear from a “b-” rating to a “c+” rating in a research report on Thursday, June 1st. StockNews.com initiated coverage on shares of Columbia Sportswear in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, UBS Group dropped their price target on shares of Columbia Sportswear from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 29th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Columbia Sportswear currently has an average rating of “Hold” and a consensus price target of $88.13.

Columbia Sportswear Profile

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Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor, active, and everyday 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 for mountaineering, climbing, skiing and snowboarding, trail, and camp enthusiasts.