Columbia Sportswear Company $COLM Holdings Cut by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Columbia Sportswear stake by 5.2% in the third quarter, selling 20,791 shares and retaining 378,486 shares worth about $21.7 million.
• Columbia Sportswear reported quarterly earnings of $1.66 per share, beating the $1.28 consensus estimate; revenue of $962.6 million also exceeded forecasts and rose 2% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $66.40. The company also declared a quarterly dividend of $0.30 per share.

Boston Trust Walden Corp cut its stake in shares of Columbia Sportswear Company (NASDAQ:COLM - Free Report) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 378,486 shares of the textile maker's stock after selling 20,791 shares during the period. Boston Trust Walden Corp owned about 0.74% of Columbia Sportswear worth $21,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of COLM. State of Wyoming increased its stake in shares of Columbia Sportswear by 357.0% in the third quarter. State of Wyoming now owns 10,708 shares of the textile maker's stock worth $615,000 after purchasing an additional 8,365 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Columbia Sportswear by 63.4% during the 3rd quarter. Signaturefd LLC now owns 1,716 shares of the textile maker's stock valued at $99,000 after buying an additional 666 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Columbia Sportswear during the 3rd quarter valued at $1,172,000. Nisa Investment Advisors LLC lifted its stake in shares of Columbia Sportswear by 84.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,034 shares of the textile maker's stock valued at $117,000 after buying an additional 932 shares in the last quarter. Finally, Mosley Wealth Management boosted its holdings in Columbia Sportswear by 42.9% in the 3rd quarter. Mosley Wealth Management now owns 1,853 shares of the textile maker's stock worth $113,000 after buying an additional 556 shares during the period. 47.76% of the stock is owned by institutional investors.

Columbia Sportswear Trading Down 2.6%

COLM stock opened at $69.12 on Friday. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 19.54 and a beta of 0.88. Columbia Sportswear Company has a 12 month low of $49.56 and a 12 month high of $72.63. The firm has a 50-day moving average of $59.31 and a two-hundred day moving average of $60.06.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The textile maker reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.38. The company had revenue of $962.58 million during the quarter, compared to analyst estimates of $944.91 million. Columbia Sportswear had a return on equity of 11.71% and a net margin of 6.97%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, equities analysts forecast that Columbia Sportswear Company will post 3.91 earnings per share for the current year.

Columbia Sportswear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, November 19th. Columbia Sportswear's payout ratio is 26.32%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group reiterated a "sell" rating and issued a $49.00 target price (up from $47.00) on shares of Columbia Sportswear in a research report on Friday, October 30th. BTIG Research upped their price objective on Columbia Sportswear from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Zacks Research lowered shares of Columbia Sportswear from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Weiss Ratings upgraded Columbia Sportswear from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, August 17th. Finally, Stifel Nicolaus set a $67.00 target price on Columbia Sportswear and gave the stock a "buy" rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $66.40.

Insider Buying and Selling

In other Columbia Sportswear news, EVP Lisa Kulok sold 6,857 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $68.47, for a total transaction of $469,498.79. Following the sale, the executive vice president owned 8,180 shares of the company's stock, valued at approximately $560,084.60. This trade represents a 45.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Peter Bragdon sold 375 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $70.81, for a total value of $26,553.75. Following the transaction, the president owned 28,950 shares in the company, valued at $2,049,949.50. This represents a 1.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 26,361 shares of company stock worth $1,844,073. Corporate insiders own 51.90% of the company's stock.

About Columbia Sportswear

Columbia Sportswear Company is an outdoor and active lifestyle apparel, footwear, accessories and equipment company headquartered in Portland, Oregon. Founded in 1938 as the Columbia Hat Company, the business has grown into a global outdoor brand focused on products designed for activities such as hiking, skiing, fishing, camping and everyday outdoor use.

The company markets products under the Columbia, Sorel, Mountain Hardwear and prAna brands. Its offerings include jackets, shirts, pants, base layers, footwear, hats, gloves, backpacks and other outdoor accessories.

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