Bayforest Capital Ltd Has $558,000 Stake in Columbia Sportswear Company (NASDAQ:COLM)

Key Points

• Bayforest Capital Ltd significantly increased its holdings in Columbia Sportswear Company during the 1st quarter, raising its shares by 1,133.6% to a total of 7,377 shares valued at approximately $558,000.
• Insider trading activity included Director Stephen E. Babson selling 2,776 shares at an average price of $65.94, which decreased his holdings by 2.12%.
• Wall Street analysts have mixed outlooks on Columbia Sportswear, with the average target price set at $68.00, amidst various ratings from buy to sell across different brokerages.

Bayforest Capital Ltd boosted its stake in Columbia Sportswear Company (NASDAQ:COLM - Free Report) by 1,133.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,377 shares of the textile maker's stock after purchasing an additional 6,779 shares during the quarter. Bayforest Capital Ltd's holdings in Columbia Sportswear were worth $558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Columbia Sportswear in the first quarter worth about $38,000. Whipplewood Advisors LLC increased its holdings in shares of Columbia Sportswear by 12,400.0% in the first quarter. Whipplewood Advisors LLC now owns 625 shares of the textile maker's stock worth $47,000 after acquiring an additional 620 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Columbia Sportswear in the fourth quarter worth about $76,000. Kapitalo Investimentos Ltda bought a new stake in shares of Columbia Sportswear in the fourth quarter worth about $139,000. Finally, Covestor Ltd increased its holdings in shares of Columbia Sportswear by 13.0% in the fourth quarter. Covestor Ltd now owns 2,101 shares of the textile maker's stock worth $177,000 after acquiring an additional 241 shares in the last quarter. Institutional investors own 47.76% of the company's stock.

Insider Buying and Selling

In related news, Director Stephen E. Babson sold 2,776 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $65.94, for a total transaction of $183,049.44. Following the completion of the transaction, the director directly owned 128,309 shares of the company's stock, valued at approximately $8,460,695.46. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 48.30% of the company's stock.

Columbia Sportswear Trading Up 2.7%

Shares of COLM stock traded up $1.35 on Monday, hitting $50.65. 410,309 shares of the stock were exchanged, compared to its average volume of 776,054. The business has a 50-day moving average of $61.35 and a 200 day moving average of $70.70. Columbia Sportswear Company has a fifty-two week low of $48.10 and a fifty-two week high of $92.88. The firm has a market capitalization of $2.79 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 3.33 and a beta of 1.00.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The textile maker reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.09. Columbia Sportswear had a return on equity of 12.97% and a net margin of 6.59%. The firm had revenue of $605.25 million during the quarter, compared to analysts' expectations of $587.97 million. During the same period in the prior year, the firm posted ($0.20) earnings per share. The business's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that Columbia Sportswear Company will post 4.1 EPS for the current fiscal 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 given a dividend of $0.30 per share. 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 dividend payout ratio is 30.61%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COLM. Barclays lowered their price target on Columbia Sportswear from $62.00 to $51.00 and set an "equal weight" rating for the company in a report on Friday. Needham & Company LLC began coverage on Columbia Sportswear in a research report on Friday, May 30th. They set a "hold" rating for the company. UBS Group reduced their price objective on Columbia Sportswear from $45.00 to $40.00 and set a "sell" rating for the company in a research report on Friday. Stifel Nicolaus reduced their price objective on Columbia Sportswear from $75.00 to $68.00 and set a "buy" rating for the company in a research report on Friday. Finally, 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 report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $60.80.

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.