254,713 Shares of Columbia Sportswear Company $COLM Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 254,713 shares of Columbia Sportswear in the second quarter, valued at approximately $15.7 million and representing about 0.5% of the company.
• Columbia Sportswear reported quarterly revenue of $614.4 million and EPS of $0.52, exceeding analyst expectations; revenue increased 1.5% year over year.
• The company pays a quarterly dividend of $0.30 per share, equivalent to a 2.1% annualized yield, while analysts maintain a consensus “Hold” rating with an average price target of $65.40.

Bank of America Corp DE purchased a new stake in Columbia Sportswear Company (NASDAQ:COLM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 254,713 shares of the textile maker's stock, valued at approximately $15,746,000. Bank of America Corp DE owned approximately 0.50% of Columbia Sportswear as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in Columbia Sportswear in the second quarter worth about $32,000. Parallel Advisors LLC grew its stake in Columbia Sportswear by 43.6% during the 1st quarter. Parallel Advisors LLC now owns 817 shares of the textile maker's stock worth $45,000 after buying an additional 248 shares during the last quarter. Versant Capital Management Inc grew its stake in Columbia Sportswear by 330.8% during the 2nd quarter. Versant Capital Management Inc now owns 840 shares of the textile maker's stock worth $52,000 after buying an additional 645 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Columbia Sportswear by 72.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 888 shares of the textile maker's stock valued at $49,000 after buying an additional 373 shares in the last quarter. Finally, Trust Co. of Vermont purchased a new stake in Columbia Sportswear in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 47.76% of the company's stock.

Columbia Sportswear Trading Up 0.3%

Columbia Sportswear stock opened at $56.97 on Friday. The firm has a market cap of $2.91 billion, a PE ratio of 14.80 and a beta of 0.94. Columbia Sportswear Company has a 12 month low of $47.47 and a 12 month high of $69.06. The stock's 50 day simple moving average is $58.70 and its two-hundred day simple moving average is $60.10.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last posted its earnings results on Thursday, July 30th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.91. Columbia Sportswear had a net margin of 6.05% and a return on equity of 11.20%. The firm had revenue of $614.36 million during the quarter, compared to analysts' expectations of $606.97 million. During the same period in the previous year, the business posted ($0.19) EPS. The business's revenue was up 1.5% compared to the same quarter last year. Columbia Sportswear has set its Q3 2026 guidance at 1.150-1.350 EPS and its FY 2026 guidance at 4.450-4.900 EPS. On average, equities research analysts forecast that Columbia Sportswear Company will post 3.58 EPS for the current year.

Columbia Sportswear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 20th. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. Columbia Sportswear's dividend payout ratio is currently 31.17%.

Wall Street Analysts Forecast Growth

COLM has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Columbia Sportswear from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 5th. Weiss Ratings raised Columbia Sportswear from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Citigroup restated a "neutral" rating and issued a $68.00 target price (up from $67.00) on shares of Columbia Sportswear in a research note on Wednesday, July 22nd. Zacks Research cut Columbia Sportswear from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Robert W. Baird set a $65.00 price target on Columbia Sportswear in a research note on Friday, July 31st. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $65.40.

Columbia Sportswear Profile

Columbia Sportswear Company is a global apparel, footwear and accessories company based in Portland, Oregon. Founded in 1938 as the Columbia Hat Company, the business has grown from a regional hat manufacturer into an outdoor and active-lifestyle brand serving consumers through wholesale distribution, company-operated stores and e-commerce channels.

The company designs and sells products for outdoor activities and everyday use, including jackets, shirts, pants, footwear, sportswear, equipment and accessories.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.