Wedge Capital Management L L P NC Sells 7,101 Shares of Columbia Sportswear (NASDAQ:COLM)

Wedge Capital Management L L P NC cut its position in shares of Columbia Sportswear (NASDAQ:COLM - Free Report) by 24.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,063 shares of the textile maker's stock after selling 7,101 shares during the quarter. Wedge Capital Management L L P NC's holdings in Columbia Sportswear were worth $1,670,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Procyon Advisors LLC grew its position in shares of Columbia Sportswear by 8.3% in the 1st quarter. Procyon Advisors LLC now owns 3,605 shares of the textile maker's stock worth $273,000 after acquiring an additional 276 shares in the last quarter. Vest Financial LLC acquired a new position in shares of Columbia Sportswear during the first quarter valued at $667,000. Whipplewood Advisors LLC lifted its position in 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 purchasing an additional 620 shares during the period. GAMMA Investing LLC boosted its stake in Columbia Sportswear by 8,642.2% during the 1st quarter. GAMMA Investing LLC now owns 52,453 shares of the textile maker's stock valued at $3,970,000 after purchasing an additional 51,853 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Columbia Sportswear by 10.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,185 shares of the textile maker's stock worth $519,000 after buying an additional 562 shares in the last quarter. 47.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COLM has been the topic of several recent research reports. Barclays lowered their price objective 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. Needham & Company LLC began coverage on shares of Columbia Sportswear in a research note on Friday, May 30th. They set a "hold" rating for the company. Stifel Nicolaus dropped their target price on shares of Columbia Sportswear from $91.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Citigroup reaffirmed a "neutral" rating and issued a $68.00 price objective (down previously from $80.00) on shares of Columbia Sportswear in a research note on Monday, April 7th. Finally, UBS Group increased their target price on Columbia Sportswear from $42.00 to $51.00 and gave the company a "sell" rating in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Columbia Sportswear currently has a consensus rating of "Hold" and a consensus price target of $70.00.

Insider Activity

In other Columbia Sportswear news, Director Stephen E. Babson sold 2,776 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $65.94, for a total value of $183,049.44. Following the completion of the sale, the director now directly owns 128,309 shares of the company's stock, valued at $8,460,695.46. This represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 48.30% of the stock is currently owned by insiders.

Columbia Sportswear Price Performance

NASDAQ:COLM traded down $0.68 during mid-day trading on Thursday, reaching $62.30. The stock had a trading volume of 74,050 shares, compared to its average volume of 796,600. The business's 50 day moving average is $64.55 and its 200 day moving average is $77.44. Columbia Sportswear has a fifty-two week low of $58.44 and a fifty-two week high of $92.88. The stock has a market cap of $3.44 billion, a P/E ratio of 16.10, a PEG ratio of 2.54 and a beta of 1.00.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last posted its earnings results on Thursday, May 1st. The textile maker reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. Columbia Sportswear had a net margin of 6.63% and a return on equity of 12.23%. The company had revenue of $778.45 million during the quarter, compared to the consensus estimate of $763.50 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts expect that Columbia Sportswear will post 4.1 EPS for the current year.

Columbia Sportswear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.93%. Columbia Sportswear's dividend payout ratio is currently 30.69%.

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.