24,973 Shares in Columbia Sportswear Company (NASDAQ:COLM) Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd acquired 24,973 shares of Columbia Sportswear Company, valued at approximately $1.89 million, during the first quarter.
• Columbia Sportswear has recently seen mixed ratings from analysts, with Barclays lowering its price target to $62.00 and Citigroup reducing theirs to $68.00, while UBS Group set a target of $51.00.
• Director Stephen E. Babson sold 2,776 shares on May 9th, a 2.12% decrease in ownership, while insiders hold 48.30% of the company's stock.

XTX Topco Ltd bought a new stake in shares of Columbia Sportswear Company (NASDAQ:COLM - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 24,973 shares of the textile maker's stock, valued at approximately $1,890,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in Columbia Sportswear in the fourth quarter worth $25,710,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Columbia Sportswear by 447.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 294,471 shares of the textile maker's stock valued at $24,715,000 after purchasing an additional 240,709 shares during the period. Barclays PLC boosted its stake in Columbia Sportswear by 487.8% during the fourth quarter. Barclays PLC now owns 271,293 shares of the textile maker's stock valued at $22,770,000 after buying an additional 225,140 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Columbia Sportswear during the first quarter valued at about $15,099,000. Finally, Millennium Management LLC bought a new position in Columbia Sportswear during the fourth quarter valued at about $9,626,000. 47.76% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Sportswear Trading Down 12.9%

COLM traded down $7.27 during midday trading on Friday, reaching $49.30. The company's stock had a trading volume of 2,604,862 shares, compared to its average volume of 559,208. The stock has a market cap of $2.72 billion, a P/E ratio of 12.58, a PEG ratio of 3.83 and a beta of 0.97. The company has a fifty day simple moving average of $61.35 and a 200 day simple moving average of $70.87. Columbia Sportswear Company has a twelve month low of $48.10 and a twelve month high of $92.88.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The textile maker reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.09. Columbia Sportswear had a return on equity of 12.78% and a net margin of 6.59%. The company had revenue of $605.25 million for the quarter, compared to analyst estimates of $587.97 million. During the same quarter last year, the firm earned ($0.20) EPS. Columbia Sportswear's revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Columbia Sportswear Company will post 4.1 earnings per share for the current year.

Columbia Sportswear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.20 annualized dividend and a yield of 2.4%. Columbia Sportswear's payout ratio is currently 30.61%.

Insider Buying and Selling

In related news, Director Stephen E. Babson sold 2,776 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $65.94, for a total value of $183,049.44. Following the sale, the director owned 128,309 shares of the company's stock, valued at $8,460,695.46. The trade was a 2.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 48.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COLM. Needham & Company LLC began coverage on Columbia Sportswear in a research report on Friday, May 30th. They issued a "hold" rating for the company. Citigroup reduced their price objective on Columbia Sportswear from $64.00 to $61.00 and set a "neutral" rating for the company in a research note on Friday. Stifel Nicolaus cut their price target on Columbia Sportswear from $75.00 to $68.00 and set a "buy" rating for the company in a research note on Friday. Barclays cut their price target on Columbia Sportswear from $62.00 to $51.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, UBS Group cut their price objective on Columbia Sportswear from $45.00 to $40.00 and set a "sell" rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $60.80.

Columbia Sportswear Company 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.