Northern Trust Corp Boosts Stake in Columbia Sportswear (NASDAQ:COLM)

Northern Trust Corp increased its stake in Columbia Sportswear (NASDAQ:COLM - Free Report) by 19.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 379,016 shares of the textile maker's stock after buying an additional 61,088 shares during the period. Northern Trust Corp owned 0.66% of Columbia Sportswear worth $31,811,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Columbia Sportswear by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 564,422 shares of the textile maker's stock worth $47,372,000 after buying an additional 13,800 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Columbia Sportswear during the 4th quarter valued at $1,904,000. Proficio Capital Partners LLC bought a new stake in shares of Columbia Sportswear in the 4th quarter worth $1,472,000. Truist Financial Corp increased its holdings in shares of Columbia Sportswear by 143.6% in the 4th quarter. Truist Financial Corp now owns 11,907 shares of the textile maker's stock worth $999,000 after purchasing an additional 7,019 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Columbia Sportswear during the fourth quarter valued at $296,000. Hedge funds and other institutional investors own 47.76% of the company's stock.

Columbia Sportswear Stock Performance

NASDAQ:COLM traded down $1.58 during mid-day trading on Wednesday, hitting $67.05. 610,601 shares of the company's stock traded hands, compared to its average volume of 580,844. Columbia Sportswear has a twelve month low of $58.44 and a twelve month high of $92.88. The company has a market capitalization of $3.70 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.54 and a beta of 1.00. The company has a fifty day moving average of $69.72 and a 200 day moving average of $79.89.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.07. Columbia Sportswear had a return on equity of 12.23% and a net margin of 6.63%. The company had revenue of $778.45 million during the quarter, compared to the consensus estimate of $763.50 million. During the same period in the previous year, the company posted $0.71 earnings per share. Columbia Sportswear's revenue for the quarter was up 1.1% on a year-over-year basis. On average, research analysts expect that Columbia Sportswear will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors 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 yield of 1.79%. Columbia Sportswear's dividend payout ratio is currently 30.69%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COLM. StockNews.com lowered Columbia Sportswear from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Stifel Nicolaus lowered their price objective 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. UBS Group upped their price objective on Columbia Sportswear from $42.00 to $51.00 and gave the stock a "sell" rating in a research note on Monday, April 14th. Citigroup reissued a "neutral" rating and set a $68.00 target price (down previously from $80.00) on shares of Columbia Sportswear in a research note on Monday, April 7th. Finally, Barclays cut their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $70.00.

Insider Buying and Selling

In other news, EVP Richelle T. Luther sold 4,000 shares of Columbia Sportswear stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $92.36, for a total value of $369,440.00. Following the sale, the executive vice president now owns 14,283 shares in the company, valued at $1,319,177.88. This trade represents a 21.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen E. Babson sold 2,776 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $65.94, for a total transaction of $183,049.44. Following the sale, the director now directly owns 128,309 shares of the company's stock, valued at $8,460,695.46. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,171 shares of company stock valued at $1,075,217. 44.70% of the stock is owned by corporate insiders.

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.