Moody National Bank Trust Division Cuts Stake in Columbia Sportswear (NASDAQ:COLM)

Moody National Bank Trust Division cut its holdings in shares of Columbia Sportswear (NASDAQ:COLMGet Rating) by 54.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,572 shares of the textile maker’s stock after selling 6,730 shares during the period. Moody National Bank Trust Division’s holdings in Columbia Sportswear were worth $399,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Columbia Sportswear by 233.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 716 shares of the textile maker’s stock valued at $65,000 after buying an additional 501 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Columbia Sportswear by 31.5% during the fourth quarter. Teacher Retirement System of Texas now owns 7,035 shares of the textile maker’s stock valued at $685,000 after buying an additional 1,687 shares during the last quarter. Citigroup Inc. boosted its position in Columbia Sportswear by 28.0% in the fourth quarter. Citigroup Inc. now owns 13,222 shares of the textile maker’s stock worth $1,288,000 after purchasing an additional 2,896 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Columbia Sportswear in the first quarter worth about $442,000. Finally, Bank of New York Mellon Corp boosted its position in Columbia Sportswear by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 410,312 shares of the textile maker’s stock worth $37,146,000 after purchasing an additional 2,388 shares during the last quarter. 48.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COLM has been the topic of several research reports. Citigroup dropped their target price on Columbia Sportswear from $98.00 to $80.00 in a research report on Thursday, July 28th. UBS Group dropped their target price on Columbia Sportswear from $83.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Stifel Nicolaus dropped their target price on Columbia Sportswear from $100.00 to $81.00 in a research report on Wednesday, July 20th. Cowen decreased their price objective on Columbia Sportswear to $95.00 in a research note on Monday, July 25th. Finally, Robert W. Baird decreased their price objective on Columbia Sportswear from $85.00 to $82.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.38.

Columbia Sportswear Trading Up 2.4 %

Shares of COLM opened at $72.71 on Tuesday. The business’s 50 day moving average is $74.03 and its 200 day moving average is $78.96. The company has a market capitalization of $4.57 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88. Columbia Sportswear has a 12-month low of $68.29 and a 12-month high of $107.50.

Columbia Sportswear (NASDAQ:COLMGet Rating) last issued its earnings results on Wednesday, July 27th. The textile maker reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. The company had revenue of $578.06 million for the quarter, compared to the consensus estimate of $592.35 million. Columbia Sportswear had a return on equity of 17.87% and a net margin of 10.13%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. Equities research analysts predict that Columbia Sportswear will post 5.18 earnings per share for the current year.

Columbia Sportswear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, August 16th. Columbia Sportswear’s dividend payout ratio is presently 23.76%.

Insider Buying and Selling at Columbia Sportswear

In other news, CFO Jim A. Swanson purchased 500 shares of the business’s stock in a transaction on Monday, August 29th. The stock was acquired at an average price of $72.99 per share, for a total transaction of $36,495.00. Following the acquisition, the chief financial officer now directly owns 5,197 shares of the company’s stock, valued at approximately $379,329.03. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.37% of the stock is currently owned by company insiders.

About Columbia Sportswear

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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 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.

Further Reading

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

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