Millennium Management LLC Makes New Investment in Columbia Sportswear (NASDAQ:COLM)

Millennium Management LLC bought a new position in Columbia Sportswear (NASDAQ:COLM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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 reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of COLM. Smartleaf Asset Management LLC boosted its stake in Columbia Sportswear by 184.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the textile maker's stock worth $25,000 after buying an additional 194 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Columbia Sportswear in the fourth quarter worth approximately $76,000. Signaturefd LLC boosted its stake in Columbia Sportswear by 18.4% in the fourth quarter. Signaturefd LLC now owns 915 shares of the textile maker's stock worth $77,000 after buying an additional 142 shares in the last quarter. Blue Trust Inc. boosted its stake in Columbia Sportswear by 33.6% in the fourth quarter. Blue Trust Inc. now owns 942 shares of the textile maker's stock worth $78,000 after buying an additional 237 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Columbia Sportswear in the fourth quarter worth approximately $139,000. Hedge funds and other institutional investors own 47.76% of the company's stock.

Columbia Sportswear Stock Performance

Shares of Columbia Sportswear stock traded up $2.37 during midday trading on Tuesday, reaching $66.17. 712,195 shares of the company's stock traded hands, compared to its average volume of 589,952. The company has a market cap of $3.65 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.54 and a beta of 1.00. The stock has a 50 day moving average of $67.45 and a 200-day moving average of $79.03. Columbia Sportswear has a 12 month low of $58.44 and a 12 month 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, beating analysts' consensus estimates of $0.68 by $0.07. The company had revenue of $778.45 million during the quarter, compared to the consensus estimate of $763.50 million. Columbia Sportswear had a return on equity of 12.23% and a net margin of 6.63%. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. On average, equities analysts anticipate that Columbia Sportswear will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.81%. Columbia Sportswear's dividend payout ratio is currently 30.69%.

Insider Transactions at Columbia Sportswear

In related news, EVP Richelle T. Luther sold 4,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $92.36, for a total transaction of $369,440.00. Following the sale, the executive vice president now directly owns 14,283 shares of the company's stock, valued at $1,319,177.88. This trade represents a 21.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the director now directly owns 128,309 shares in the company, valued at $8,460,695.46. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 44.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COLM. Citigroup reaffirmed a "neutral" rating and issued a $68.00 target price (down previously from $80.00) on shares of Columbia Sportswear in a research note on Monday, April 7th. Wall Street Zen downgraded Columbia Sportswear from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Barclays lowered their price objective on Columbia Sportswear from $64.00 to $62.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Stifel Nicolaus lowered their price objective on Columbia Sportswear from $91.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, UBS Group boosted their price objective on Columbia Sportswear from $42.00 to $51.00 and gave the company a "sell" rating in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $70.00.

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.