State of Alaska Department of Revenue Grows Stake in Columbia Sportswear Company (NASDAQ:COLM)

State of Alaska Department of Revenue raised its holdings in Columbia Sportswear Company (NASDAQ:COLM - Free Report) by 287.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,143 shares of the textile maker's stock after acquiring an additional 29,035 shares during the period. State of Alaska Department of Revenue owned approximately 0.07% of Columbia Sportswear worth $2,962,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in shares of Columbia Sportswear during the 1st quarter valued at about $715,000. SG Americas Securities LLC bought a new stake in Columbia Sportswear in the 1st quarter worth approximately $1,097,000. Abacus FCF Advisors LLC boosted its stake in Columbia Sportswear by 2.8% in the first quarter. Abacus FCF Advisors LLC now owns 40,288 shares of the textile maker's stock worth $3,049,000 after buying an additional 1,100 shares in the last quarter. Procyon Advisors LLC grew its position in Columbia Sportswear by 8.3% during the first quarter. Procyon Advisors LLC now owns 3,605 shares of the textile maker's stock valued at $273,000 after acquiring an additional 276 shares during the last quarter. Finally, Vest Financial LLC purchased a new position in shares of Columbia Sportswear during the first quarter worth approximately $667,000. Institutional investors own 47.76% of the company's stock.

Columbia Sportswear Stock Down 1.1%

Shares of COLM traded down $0.69 during trading hours on Wednesday, reaching $60.21. 549,493 shares of the company traded hands, compared to its average volume of 616,033. Columbia Sportswear Company has a 12 month low of $58.44 and a 12 month high of $92.88. The company's fifty day moving average price is $63.58 and its two-hundred day moving average price is $75.56. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 4.05 and a beta of 1.00.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last issued 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 net margin of 6.61% and a return on equity of 12.57%. The business had revenue of $778.45 million during the quarter, compared to analyst estimates of $763.50 million. During the same period last year, the business posted $0.71 earnings per share. Columbia Sportswear's quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts expect that Columbia Sportswear Company will post 4.1 EPS for the current year.

Columbia Sportswear Dividend Announcement

The company 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. The ex-dividend date was Thursday, May 22nd. This represents a $1.20 annualized dividend and a dividend yield of 1.99%. Columbia Sportswear's dividend payout ratio is presently 30.69%.

Insider Buying and Selling

In related news, Director Stephen E. Babson sold 2,776 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $65.94, for a total transaction of $183,049.44. Following the sale, the director now owns 128,309 shares of the company's stock, valued at $8,460,695.46. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 48.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COLM has been the subject of several analyst reports. 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 report on Monday, April 14th. Barclays lowered their target price on 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. Stifel Nicolaus reduced their price target on 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 target (down from $80.00) on shares of Columbia Sportswear in a research note on Monday, April 7th. Finally, Needham & Company LLC initiated coverage on Columbia Sportswear in a research note on Friday, May 30th. They set a "hold" rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Columbia Sportswear presently has a consensus 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.