CCM Investment Group LLC Purchases Shares of 7,757 Columbia Sportswear Company (NASDAQ:COLM)

Key Points

• CCM Investment Group LLC has acquired 7,757 shares of Columbia Sportswear Company, valued at approximately $584,000, marking a new investment in the company.
• Columbia Sportswear reported earnings of ($0.19) per share for the last quarter, exceeding the consensus estimate of ($0.28), and had a revenue of $605.25 million, up 6.1% from the previous year.
• The company announced a quarterly $0.30 dividend to be paid on September 4th, reflecting a 2.4% yield, with a dividend payout ratio of 30.61%.

CCM Investment Group LLC acquired a new position in shares of Columbia Sportswear Company (NASDAQ:COLM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,757 shares of the textile maker's stock, valued at approximately $584,000.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of Columbia Sportswear by 25.3% in the fourth quarter. Invesco Ltd. now owns 530,600 shares of the textile maker's stock worth $44,533,000 after purchasing an additional 107,157 shares in the last quarter. Northern Trust Corp increased its stake in shares of Columbia Sportswear by 19.2% in the fourth quarter. Northern Trust Corp now owns 379,016 shares of the textile maker's stock worth $31,811,000 after purchasing an additional 61,088 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Columbia Sportswear by 11.2% in the fourth quarter. AQR Capital Management LLC now owns 276,992 shares of the textile maker's stock worth $23,248,000 after purchasing an additional 27,852 shares in the last quarter. Barclays PLC increased its stake in shares of Columbia Sportswear by 487.8% in the fourth quarter. Barclays PLC now owns 271,293 shares of the textile maker's stock worth $22,770,000 after purchasing an additional 225,140 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Columbia Sportswear by 1.9% in the fourth quarter. First Trust Advisors LP now owns 232,742 shares of the textile maker's stock worth $19,534,000 after purchasing an additional 4,323 shares in the last quarter. Hedge funds and other institutional investors own 47.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Needham & Company LLC assumed coverage on shares of Columbia Sportswear in a research note on Friday, May 30th. They set a "hold" rating for the company. Barclays reduced their price objective on shares of Columbia Sportswear from $62.00 to $51.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. UBS Group reduced their price objective on shares of Columbia Sportswear from $45.00 to $40.00 and set a "sell" rating for the company in a research note on Friday, August 1st. Stifel Nicolaus reduced their price objective on shares of Columbia Sportswear from $75.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, Cfra Research raised shares of Columbia Sportswear to a "hold" rating in a research note on Monday, August 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $60.80.

Columbia Sportswear Price Performance

COLM stock traded up $0.48 during midday trading on Friday, reaching $53.20. The company had a trading volume of 161,544 shares, compared to its average volume of 770,922. Columbia Sportswear Company has a 1 year low of $48.10 and a 1 year high of $92.88. The company has a market capitalization of $2.91 billion, a P/E ratio of 13.58 and a beta of 1.00. The firm has a 50-day moving average price of $59.22 and a 200-day moving average price of $68.71.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.09. Columbia Sportswear had a net margin of 6.59% and a return on equity of 12.97%. The company had revenue of $605.25 million during the quarter, compared to analysts' expectations of $587.97 million. During the same quarter in the prior year, the company earned ($0.20) EPS. The firm's revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Columbia Sportswear Company will post 4.1 EPS for the current year.

Columbia Sportswear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.3%. Columbia Sportswear's dividend payout ratio is 30.61%.

About Columbia Sportswear

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.