Retirement Systems of Alabama Sells 1,765 Shares of Columbia Sportswear (NASDAQ:COLM)

Retirement Systems of Alabama trimmed its stake in Columbia Sportswear (NASDAQ:COLM) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,830 shares of the textile maker’s stock after selling 1,765 shares during the quarter. Retirement Systems of Alabama’s holdings in Columbia Sportswear were worth $3,313,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in Columbia Sportswear by 116.6% during the 2nd quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 225 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Columbia Sportswear by 51.3% during the third quarter. GAMMA Investing LLC now owns 419 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 142 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Columbia Sportswear during the third quarter valued at $65,000. nVerses Capital LLC bought a new stake in Columbia Sportswear in the 3rd quarter worth about $75,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Columbia Sportswear in the 2nd quarter worth about $253,000. Institutional investors own 47.76% of the company’s stock.

Columbia Sportswear Stock Up 0.7 %

Columbia Sportswear stock opened at $88.31 on Friday. The business has a 50-day simple moving average of $84.13 and a two-hundred day simple moving average of $81.86. The company has a market cap of $5.05 billion, a P/E ratio of 24.40, a P/E/G ratio of 3.74 and a beta of 0.94. Columbia Sportswear has a 52-week low of $73.04 and a 52-week high of $91.30.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.20. Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.48%. The firm had revenue of $931.80 million for the quarter, compared to analysts’ expectations of $937.17 million. During the same quarter in the prior year, the business earned $1.70 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. Research analysts anticipate that Columbia Sportswear will post 3.89 EPS for the current fiscal year.

Columbia Sportswear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Wednesday, November 20th. Columbia Sportswear’s payout ratio is 33.15%.

Analyst Ratings Changes

Several research firms have issued reports on COLM. StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Stifel Nicolaus increased their price objective on shares of Columbia Sportswear from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, TD Cowen lifted their target price on shares of Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $80.75.

Columbia Sportswear Profile

Columbia Sportswear Company, together with its subsidiaries, designs, develops, 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 hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.