Macquarie Group Ltd. Increases Stake in Columbia Sportswear (NASDAQ:COLM)

Macquarie Group Ltd. raised its stake in Columbia Sportswear (NASDAQ:COLM) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 857,498 shares of the textile maker’s stock after acquiring an additional 15,421 shares during the quarter. Macquarie Group Ltd. owned approximately 1.38% of Columbia Sportswear worth $77,381,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Advisory Services Network LLC grew its stake in Columbia Sportswear by 176.1% in the 1st quarter. Advisory Services Network LLC now owns 312 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 199 shares during the period. Lazard Asset Management LLC purchased a new stake in Columbia Sportswear during the 1st quarter worth approximately $45,000. US Bancorp DE raised its holdings in shares of Columbia Sportswear by 19.8% during the first quarter. US Bancorp DE now owns 823 shares of the textile maker’s stock valued at $75,000 after acquiring an additional 136 shares during the last quarter. Covestor Ltd lifted its position in shares of Columbia Sportswear by 523.6% in the first quarter. Covestor Ltd now owns 873 shares of the textile maker’s stock valued at $79,000 after acquiring an additional 733 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Columbia Sportswear in the first quarter worth approximately $99,000. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Columbia Sportswear Stock Performance

Shares of NASDAQ COLM traded down $0.34 during mid-day trading on Wednesday, reaching $71.35. 129,098 shares of the company’s stock were exchanged, compared to its average volume of 358,542. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.28 and a beta of 0.96. Columbia Sportswear has a 52-week low of $65.02 and a 52-week high of $98.32. The company’s 50-day moving average is $75.17 and its 200-day moving average is $79.80.

Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Tuesday, August 1st. The textile maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.12. The company had revenue of $620.90 million during the quarter, compared to analyst estimates of $586.45 million. Columbia Sportswear had a net margin of 8.19% and a return on equity of 16.84%. Columbia Sportswear’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. As a group, equities analysts predict that Columbia Sportswear will post 4.6 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.68%. Columbia Sportswear’s payout ratio is presently 25.53%.

Analysts Set New Price Targets

A number of research analysts have weighed in on COLM shares. Stifel Nicolaus decreased their price objective on Columbia Sportswear from $93.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. TheStreet downgraded shares of Columbia Sportswear from a “b-” rating to a “c+” rating in a research note on Thursday, June 1st. TD Cowen cut shares of Columbia Sportswear from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $94.00 to $83.00 in a research note on Thursday, August 3rd. UBS Group cut their price objective on shares of Columbia Sportswear from $92.00 to $91.00 and set a “neutral” rating for the company in a report on Wednesday, July 19th. Finally, StockNews.com started coverage on Columbia Sportswear in a report on Thursday, August 17th. They set a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.44.

Columbia Sportswear Company Profile

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.