First Trust Advisors LP cut its holdings in Columbia Sportswear (NASDAQ:COLM) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,274 shares of the textile maker’s stock after selling 3,907 shares during the quarter. First Trust Advisors LP owned approximately 0.13% of Columbia Sportswear worth $7,591,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in COLM. Morgan Stanley grew its position in shares of Columbia Sportswear by 17.4% in the first quarter. Morgan Stanley now owns 142,285 shares of the textile maker’s stock valued at $9,928,000 after purchasing an additional 21,087 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Columbia Sportswear in the second quarter valued at approximately $259,000. Vident Investment Advisory LLC acquired a new stake in shares of Columbia Sportswear in the second quarter valued at approximately $222,000. SG Americas Securities LLC grew its position in shares of Columbia Sportswear by 29.5% in the second quarter. SG Americas Securities LLC now owns 10,371 shares of the textile maker’s stock valued at $836,000 after purchasing an additional 2,365 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in shares of Columbia Sportswear in the second quarter valued at approximately $58,000. Institutional investors and hedge funds own 37.87% of the company’s stock.
In other news, EVP Lisa Kulok sold 388 shares of the firm’s stock in a transaction on Tuesday, November 17th. The shares were sold at an average price of $85.00, for a total value of $32,980.00. Following the transaction, the executive vice president now owns 1,672 shares of the company’s stock, valued at approximately $142,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Sarah Bany sold 330,000 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $76.90, for a total transaction of $25,377,000.00. Following the completion of the transaction, the insider now directly owns 1,154,136 shares in the company, valued at approximately $88,753,058.40. The disclosure for this sale can be found here. In the last three months, insiders sold 702,788 shares of company stock worth $57,061,650. Insiders own 41.15% of the company’s stock.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, October 29th. The textile maker reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.28). The company had revenue of $701.10 million during the quarter, compared to analyst estimates of $767.13 million. Columbia Sportswear had a net margin of 4.97% and a return on equity of 7.30%. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.75 EPS. Equities research analysts anticipate that Columbia Sportswear will post 1.44 EPS for the current year.
Several analysts have recently commented on COLM shares. TheStreet upgraded shares of Columbia Sportswear from a “c” rating to a “b” rating in a research report on Thursday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Columbia Sportswear in a research report on Monday, November 2nd. Wedbush raised their target price on shares of Columbia Sportswear from $95.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. Pivotal Research decreased their target price on shares of Columbia Sportswear from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, October 30th. Finally, ValuEngine lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Monday, November 2nd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $101.33.
About Columbia Sportswear
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 that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel.
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