Teacher Retirement System of Texas Purchases Shares of 6,838 Columbia Sportswear Company (NASDAQ:COLM)

Teacher Retirement System of Texas acquired a new position in shares of Columbia Sportswear Company (NASDAQ:COLM - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 6,838 shares of the textile maker's stock, valued at approximately $518,000.

Several other institutional investors have also modified their holdings of COLM. Victory Capital Management Inc. lifted its position in shares of Columbia Sportswear by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 15,318 shares of the textile maker's stock worth $1,286,000 after purchasing an additional 365 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Columbia Sportswear in the fourth quarter valued at $1,472,000. Raymond James Financial Inc. purchased a new stake in Columbia Sportswear in the fourth quarter valued at $1,904,000. Amundi lifted its position in Columbia Sportswear by 40.7% in the fourth quarter. Amundi now owns 2,746 shares of the textile maker's stock valued at $227,000 after acquiring an additional 794 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in Columbia Sportswear by 48.6% in the fourth quarter. Natixis Advisors LLC now owns 143,831 shares of the textile maker's stock valued at $12,072,000 after acquiring an additional 47,031 shares during the last quarter. 47.76% of the stock is owned by hedge funds and other institutional investors.

Columbia Sportswear Stock Down 0.5%

Shares of COLM traded down $0.30 on Friday, reaching $59.61. The stock had a trading volume of 500,929 shares, compared to its average volume of 620,620. The firm has a 50-day moving average of $62.99 and a 200 day moving average of $72.69. The firm has a market capitalization of $3.29 billion, a PE ratio of 15.25, a PEG ratio of 3.99 and a beta of 0.97. Columbia Sportswear Company has a twelve month low of $58.44 and a twelve month high of $92.88.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The textile maker reported $0.75 EPS for the quarter, beating the consensus estimate of $0.68 by $0.07. The business had revenue of $778.45 million for the quarter, compared to analyst estimates of $763.50 million. Columbia Sportswear had a net margin of 6.61% and a return on equity of 12.57%. The company's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 earnings per share. On average, sell-side analysts anticipate that Columbia Sportswear Company will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid 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 was Thursday, May 22nd. Columbia Sportswear's payout ratio is 30.69%.

Analyst Upgrades and Downgrades

COLM has been the subject of a number of research reports. Needham & Company LLC initiated coverage on shares of Columbia Sportswear in a report on Friday, May 30th. They issued a "hold" rating for the company. Barclays reduced 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 report on Friday, May 2nd. Stifel Nicolaus reduced their target price on shares of Columbia Sportswear from $91.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Citigroup reiterated a "neutral" rating and set a $68.00 price target (down from $80.00) on shares of Columbia Sportswear in a research note on Monday, April 7th. Finally, UBS Group boosted their price target on shares of Columbia Sportswear from $42.00 to $51.00 and gave the stock a "sell" rating in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Columbia Sportswear currently has a consensus rating of "Hold" and a consensus target price of $70.00.

Insider Activity

In related 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 transaction of $183,049.44. Following the transaction, the director owned 128,309 shares of the company's stock, 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 available at the SEC website. Insiders own 48.30% of the company's stock.

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.