Millennium Management LLC Acquires Shares of 114,687 Columbia Sportswear (NASDAQ:COLM)

Millennium Management LLC acquired a new stake in Columbia Sportswear (NASDAQ:COLM - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 114,687 shares of the textile maker's stock, valued at approximately $9,626,000. Millennium Management LLC owned approximately 0.20% of Columbia Sportswear at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COLM. Norges Bank bought a new position in Columbia Sportswear in the 4th quarter valued at approximately $25,710,000. Arrowstreet Capital Limited Partnership raised its stake in Columbia Sportswear by 447.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 294,471 shares of the textile maker's stock valued at $24,715,000 after buying an additional 240,709 shares during the last quarter. Barclays PLC raised its stake in Columbia Sportswear by 487.8% during the 4th quarter. Barclays PLC now owns 271,293 shares of the textile maker's stock valued at $22,770,000 after buying an additional 225,140 shares during the last quarter. American Century Companies Inc. raised its stake in Columbia Sportswear by 18.0% during the 4th quarter. American Century Companies Inc. now owns 884,731 shares of the textile maker's stock valued at $74,255,000 after buying an additional 134,813 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Columbia Sportswear by 10.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,207,605 shares of the textile maker's stock valued at $101,355,000 after buying an additional 109,488 shares during the last quarter. 47.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Columbia Sportswear news, Director Stephen E. Babson sold 2,776 shares of the stock in a transaction on Friday, May 9th. The stock was 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 owns 128,309 shares in the company, valued at approximately $8,460,695.46. This represents a 2.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 44.70% of the stock is currently owned by company insiders.

Columbia Sportswear Price Performance

Shares of NASDAQ:COLM traded down $0.69 during midday trading on Thursday, hitting $64.38. The company had a trading volume of 144,390 shares, compared to its average volume of 807,878. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 2.54 and a beta of 1.00. Columbia Sportswear has a 12-month low of $58.44 and a 12-month high of $92.88. The company has a fifty day moving average of $67.01 and a two-hundred day moving average of $78.84.

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, topping the consensus estimate of $0.68 by $0.07. Columbia Sportswear had a return on equity of 12.23% and a net margin of 6.63%. The firm had revenue of $778.45 million during the quarter, compared to analyst estimates of $763.50 million. During the same period in the prior year, the business posted $0.71 EPS. Columbia Sportswear's revenue was up 1.1% on a year-over-year basis. Research analysts expect that Columbia Sportswear will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be paid a $0.30 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 1.86%. Columbia Sportswear's payout ratio is presently 30.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COLM. Stifel Nicolaus decreased their target price on shares of Columbia Sportswear from $91.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Citigroup reiterated a "neutral" rating and set a $68.00 target price (down from $80.00) on shares of Columbia Sportswear in a research note on Monday, April 7th. Barclays decreased their target price on shares of Columbia Sportswear from $64.00 to $62.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. UBS Group boosted their target price 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. Finally, Wall Street Zen lowered shares of Columbia Sportswear from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $70.00.

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.