First Trust Advisors LP Lowers Holdings in Columbia Sportswear (NASDAQ:COLM)

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First Trust Advisors LP reduced its position in shares of Columbia Sportswear (NASDAQ:COLM) by 27.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,181 shares of the textile maker’s stock after selling 33,787 shares during the period. First Trust Advisors LP’s holdings in Columbia Sportswear were worth $7,347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlanta Capital Management Co. L L C boosted its position in shares of Columbia Sportswear by 24.1% during the first quarter. Atlanta Capital Management Co. L L C now owns 3,683,112 shares of the textile maker’s stock worth $256,971,000 after buying an additional 714,811 shares during the period. Invesco Ltd. boosted its position in shares of Columbia Sportswear by 4.1% during the first quarter. Invesco Ltd. now owns 1,105,475 shares of the textile maker’s stock worth $77,129,000 after buying an additional 43,148 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Columbia Sportswear by 28.0% during the first quarter. JPMorgan Chase & Co. now owns 1,072,160 shares of the textile maker’s stock worth $74,804,000 after buying an additional 234,742 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Columbia Sportswear by 14.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 905,891 shares of the textile maker’s stock worth $63,204,000 after buying an additional 115,297 shares during the period. Finally, State Street Corp boosted its position in shares of Columbia Sportswear by 1.8% during the first quarter. State Street Corp now owns 714,059 shares of the textile maker’s stock worth $49,820,000 after buying an additional 12,970 shares during the period. Institutional investors and hedge funds own 41.76% of the company’s stock.

Several research analysts have recently commented on COLM shares. DA Davidson upgraded Columbia Sportswear from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, June 24th. BidaskClub upgraded Columbia Sportswear from a “sell” rating to a “hold” rating in a research note on Thursday. Cfra reduced their price objective on Columbia Sportswear from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Citigroup increased their price objective on Columbia Sportswear from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Pivotal Research reduced their price objective on Columbia Sportswear from $101.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, April 29th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Columbia Sportswear presently has an average rating of “Buy” and a consensus price target of $101.30.

In other Columbia Sportswear news, major shareholder Sarah Bany sold 3,357 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $74.49, for a total transaction of $250,062.93. Following the transaction, the insider now owns 1,154,136 shares of the company’s stock, valued at $85,971,590.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Gertrude Boyle Trust sold 3,244 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $81.88, for a total value of $265,618.72. Following the transaction, the insider now directly owns 8,359,898 shares in the company, valued at approximately $684,508,448.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,615,098 shares of company stock worth $126,863,011. 41.15% of the stock is owned by insiders.

Columbia Sportswear stock opened at $75.84 on Friday. Columbia Sportswear has a 1-year low of $51.82 and a 1-year high of $109.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.80 and a quick ratio of 1.86. The stock has a market cap of $5.01 billion, a PE ratio of 28.62, a P/E/G ratio of 12.70 and a beta of 0.67. The stock’s fifty day moving average is $78.99 and its two-hundred day moving average is $78.13.

Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings results on Thursday, July 30th. The textile maker reported ($0.77) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.88) by $0.11. Columbia Sportswear had a return on equity of 10.36% and a net margin of 6.66%. The company had revenue of $316.61 million for the quarter, compared to analysts’ expectations of $315.43 million. On average, research analysts expect that Columbia Sportswear will post 2.04 earnings per share for the current fiscal year.

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 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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