Edgestream Partners L.P. Invests $2.20 Million in Columbia Sportswear Company (NASDAQ:COLM)

Edgestream Partners L.P. bought a new position in Columbia Sportswear Company (NASDAQ:COLM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,087 shares of the textile maker's stock, valued at approximately $2,202,000. Edgestream Partners L.P. owned 0.05% of Columbia Sportswear as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC boosted its position in Columbia Sportswear by 12,400.0% during the first quarter. Whipplewood Advisors LLC now owns 625 shares of the textile maker's stock valued at $47,000 after purchasing an additional 620 shares during the last quarter. Lazard Asset Management LLC bought a new position in Columbia Sportswear during the fourth quarter valued at about $76,000. Signaturefd LLC raised its holdings in Columbia Sportswear by 18.4% during the fourth quarter. Signaturefd LLC now owns 915 shares of the textile maker's stock valued at $77,000 after buying an additional 142 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Columbia Sportswear in the fourth quarter worth about $139,000. Finally, Covestor Ltd increased its stake 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 purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 47.76% of the company's stock.

Wall Street Analyst Weigh In

COLM has been the topic of several recent analyst reports. Needham & Company LLC initiated coverage on Columbia Sportswear in a report on Friday, May 30th. They issued a "hold" rating on the stock. Stifel Nicolaus reduced their target price on Columbia Sportswear from $91.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. UBS Group boosted their target price on Columbia Sportswear from $42.00 to $51.00 and gave the stock a "sell" rating in a report on Monday, April 14th. Barclays reduced their price objective on Columbia Sportswear from $64.00 to $62.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Finally, Citigroup reaffirmed a "neutral" rating and set a $68.00 price objective (down previously from $80.00) on shares of Columbia Sportswear in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $68.00.

Insider Activity

In other news, Director Stephen E. Babson sold 2,776 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 128,309 shares in the company, 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 filing with the SEC, which is accessible through this link. 48.30% of the stock is owned by corporate insiders.

Columbia Sportswear Stock Performance

Shares of NASDAQ COLM traded down $0.30 during trading on Friday, hitting $59.61. 500,939 shares of the company traded hands, compared to its average volume of 621,674. The business's fifty day moving average is $62.86 and its 200 day moving average is $72.52. Columbia Sportswear Company has a fifty-two week low of $58.44 and a fifty-two week high of $92.88. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 3.97 and a beta of 0.97.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The textile maker reported $0.75 EPS for the quarter, beating the consensus estimate of $0.68 by $0.07. Columbia Sportswear had a net margin of 6.61% and a return on equity of 12.57%. The firm had revenue of $778.45 million during the quarter, compared to analyst estimates of $763.50 million. During the same quarter last year, the business posted $0.71 EPS. The company's revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Columbia Sportswear Company 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. Investors of record on Thursday, May 22nd were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, May 22nd. Columbia Sportswear's dividend payout ratio is currently 30.69%.

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.