Bank of New York Mellon Corp Decreases Stake in Columbia Sportswear Company (NASDAQ:COLM)

Bank of New York Mellon Corp trimmed its stake in shares of Columbia Sportswear Company (NASDAQ:COLM - Free Report) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 387,592 shares of the textile maker's stock after selling 30,939 shares during the period. Bank of New York Mellon Corp owned approximately 0.70% of Columbia Sportswear worth $29,337,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of COLM. Whipplewood Advisors LLC boosted its holdings in Columbia Sportswear by 12,400.0% during the first quarter. Whipplewood Advisors LLC now owns 625 shares of the textile maker's stock worth $47,000 after purchasing an additional 620 shares during the last quarter. Signaturefd LLC raised its position in shares of Columbia Sportswear by 18.4% in the fourth quarter. Signaturefd LLC now owns 915 shares of the textile maker's stock valued at $77,000 after purchasing an additional 142 shares during the period. Lazard Asset Management LLC bought a new position in Columbia Sportswear during the fourth quarter worth about $76,000. Kapitalo Investimentos Ltda bought a new position in Columbia Sportswear during the fourth quarter worth about $139,000. Finally, Covestor Ltd increased its holdings in Columbia Sportswear by 13.0% in the 4th quarter. Covestor Ltd now owns 2,101 shares of the textile maker's stock valued at $177,000 after buying an additional 241 shares during the period. 47.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COLM. Barclays reduced their price target on shares of Columbia Sportswear from $64.00 to $62.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. UBS Group lifted their price objective on shares of Columbia Sportswear from $42.00 to $51.00 and gave the stock a "sell" rating in a report on Monday, April 14th. Citigroup reissued a "neutral" rating and issued a $68.00 price target (down from $80.00) on shares of Columbia Sportswear in a report on Monday, April 7th. Stifel Nicolaus dropped their price objective on shares of Columbia Sportswear from $91.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Needham & Company LLC assumed coverage on shares of Columbia Sportswear in a report on Friday, May 30th. They issued a "hold" rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $70.00.

Columbia Sportswear Trading Down 0.5%

Shares of COLM stock traded down $0.30 on Friday, reaching $59.61. The company's stock had a trading volume of 500,929 shares, compared to its average volume of 620,620. The stock's fifty day simple moving average is $62.99 and its 200-day simple moving average is $72.69. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 3.99 and a beta of 0.97. Columbia Sportswear Company has a 1 year low of $58.44 and a 1 year high of $92.88.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last announced its earnings results on Thursday, May 1st. The textile maker reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.07. The business had revenue of $778.45 million during the quarter, compared to the consensus estimate of $763.50 million. Columbia Sportswear had a net margin of 6.61% and a return on equity of 12.57%. The firm's revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Equities research analysts forecast that Columbia Sportswear Company will post 4.1 earnings per share for the current year.

Columbia Sportswear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a $0.30 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.20 annualized dividend and a yield of 2.01%. Columbia Sportswear's dividend payout ratio (DPR) is presently 30.69%.

Insider Buying and Selling

In other 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 transaction, the director owned 128,309 shares in the company, valued at $8,460,695.46. This trade represents a 2.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 48.30% of the company's stock.

Columbia Sportswear Company 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.