Kingsview Wealth Management LLC Purchases New Stake in Columbia Sportswear Company (NASDAQ:COLM)

Kingsview Wealth Management LLC purchased a new position in Columbia Sportswear Company (NASDAQ:COLM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,708 shares of the textile maker's stock, valued at approximately $2,551,000. Kingsview Wealth Management LLC owned 0.06% of Columbia Sportswear at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of COLM. Whipplewood Advisors LLC increased its holdings in shares of Columbia Sportswear by 12,400.0% in the 1st quarter. Whipplewood Advisors LLC now owns 625 shares of the textile maker's stock worth $47,000 after buying an additional 620 shares during the last quarter. Lazard Asset Management LLC bought a new position in Columbia Sportswear during the 4th quarter valued at about $76,000. Signaturefd LLC grew its holdings in Columbia Sportswear by 18.4% during the 4th 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 last quarter. Kapitalo Investimentos Ltda bought a new position in Columbia Sportswear during the 4th quarter valued at about $139,000. Finally, Covestor Ltd grew its holdings in Columbia Sportswear by 13.0% during the 4th quarter. Covestor Ltd now owns 2,101 shares of the textile maker's stock valued at $177,000 after purchasing an additional 241 shares during the last quarter. 47.76% of the stock is currently owned by institutional investors.

Columbia Sportswear Stock Performance

Shares of Columbia Sportswear stock traded up $2.21 on Tuesday, reaching $62.09. The company had a trading volume of 486,054 shares, compared to its average volume of 621,992. The firm has a market cap of $3.43 billion, a PE ratio of 15.88, a PEG ratio of 4.03 and a beta of 0.97. The firm's 50 day moving average price is $62.53 and its two-hundred day moving average price is $72.14. Columbia Sportswear Company has a 52-week low of $58.44 and a 52-week high of $92.88.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last posted its quarterly 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 6.61% and a return on equity of 12.57%. The company had revenue of $778.45 million during the quarter, compared to analysts' expectations of $763.50 million. During the same quarter in the previous year, the business posted $0.71 EPS. The firm's revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts predict that Columbia Sportswear Company will post 4.1 EPS for the current year.

Columbia Sportswear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.30 per share. The ex-dividend date 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 (DPR) is presently 30.69%.

Insider Buying and Selling at Columbia Sportswear

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on COLM. Stifel Nicolaus lowered their price target on shares of Columbia Sportswear from $91.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. UBS Group upped their price target on shares of Columbia Sportswear from $42.00 to $51.00 and gave the company a "sell" rating in a research note on Monday, April 14th. Citigroup reiterated 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. Needham & Company LLC began coverage on shares of Columbia Sportswear in a research report on Friday, May 30th. They issued a "hold" rating on the stock. Finally, Barclays dropped their target price on shares of Columbia Sportswear from $64.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Columbia Sportswear presently has an average rating of "Hold" and a consensus price target of $68.00.

About Columbia Sportswear

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.