Bayforest Capital Ltd Purchases 6,779 Shares of 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 increased its holdings in Columbia Sportswear Company (NASDAQ:COLM - Free Report) by 1,133.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,377 shares of the textile maker's stock after acquiring an additional 6,779 shares during the period. Bayforest Capital Ltd's holdings in Columbia Sportswear were worth $558,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Columbia Sportswear during the 4th quarter worth about $25,710,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Columbia Sportswear by 447.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 294,471 shares of the textile maker's stock worth $24,715,000 after purchasing an additional 240,709 shares in the last quarter. Barclays PLC grew its holdings in shares of Columbia Sportswear by 487.8% during the 4th 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. Massachusetts Financial Services Co. MA acquired a new stake in Columbia Sportswear in the 1st quarter valued at $15,099,000. Finally, Millennium Management LLC acquired a new stake in Columbia Sportswear in the 4th quarter valued at $9,626,000. 47.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Stifel Nicolaus decreased their price target on Columbia Sportswear from $75.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday. 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 cut 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. Barclays cut their price objective on Columbia Sportswear from $62.00 to $51.00 and set an "equal weight" rating for the company in a research report on Friday. Finally, UBS Group cut 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. One 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $60.80.

Columbia Sportswear Trading Down 12.9%

NASDAQ:COLM traded down $7.27 on Friday, hitting $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 fifty day moving average of $61.35 and a two-hundred day moving average of $70.87. The firm has a market capitalization of $2.72 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 3.83 and a beta of 0.97. Columbia Sportswear Company has a one year low of $48.10 and a one year high of $92.88.

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

Columbia Sportswear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 21st. Columbia Sportswear's dividend payout ratio (DPR) is currently 30.61%.

Insider Buying and Selling at Columbia Sportswear

In other Columbia Sportswear news, Director Stephen E. Babson sold 2,776 shares of the firm'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 approximately $8,460,695.46. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 48.30% of the company's stock.

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.