American International Group Inc. Cuts Holdings in Columbia Sportswear (NASDAQ:COLM)

American International Group Inc. decreased its stake in Columbia Sportswear (NASDAQ:COLM) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,594 shares of the textile maker’s stock after selling 2,665 shares during the period. American International Group Inc.’s holdings in Columbia Sportswear were worth $3,706,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Morgan Stanley increased its stake in Columbia Sportswear by 9.2% in the third quarter. Morgan Stanley now owns 4,352,622 shares of the textile maker’s stock valued at $322,530,000 after acquiring an additional 366,854 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of Columbia Sportswear by 30.9% during the 4th quarter. Boston Trust Walden Corp now owns 1,294,410 shares of the textile maker’s stock valued at $102,957,000 after purchasing an additional 305,592 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Columbia Sportswear by 10.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,128,258 shares of the textile maker’s stock valued at $89,745,000 after buying an additional 104,100 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Columbia Sportswear by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 515,735 shares of the textile maker’s stock worth $41,022,000 after buying an additional 18,001 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Columbia Sportswear by 28.3% in the fourth quarter. First Trust Advisors LP now owns 476,608 shares of the textile maker’s stock worth $37,909,000 after buying an additional 105,193 shares in the last quarter. 47.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stifel Nicolaus lifted their price target on shares of Columbia Sportswear from $75.00 to $84.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Columbia Sportswear presently has an average rating of “Hold” and an average target price of $75.75.

Insider Transactions at Columbia Sportswear

In related news, Director Sabrina Simmons sold 523 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $81.70, for a total transaction of $42,729.10. Following the completion of the transaction, the director now owns 6,483 shares in the company, valued at $529,661.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Sabrina Simmons sold 523 shares of Columbia Sportswear stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $81.70, for a total transaction of $42,729.10. Following the sale, the director now owns 6,483 shares of the company’s stock, valued at approximately $529,661.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jim A. Swanson sold 7,199 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $77.50, for a total transaction of $557,922.50. Following the completion of the transaction, the chief financial officer now directly owns 9,423 shares of the company’s stock, valued at $730,282.50. The disclosure for this sale can be found here. Corporate insiders own 44.70% of the company’s stock.

Columbia Sportswear Stock Performance

NASDAQ:COLM opened at $83.57 on Monday. Columbia Sportswear has a fifty-two week low of $66.01 and a fifty-two week high of $87.23. The firm has a market cap of $4.94 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 3.39 and a beta of 0.95. The business has a 50 day moving average price of $81.82 and a 200-day moving average price of $80.25.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, April 25th. The textile maker reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.36. Columbia Sportswear had a net margin of 7.20% and a return on equity of 13.98%. The business had revenue of $769.98 million during the quarter, compared to analysts’ expectations of $740.62 million. During the same quarter in the prior year, the company posted $0.74 EPS. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. Research analysts predict that Columbia Sportswear will post 3.86 EPS for the current year.

Columbia Sportswear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, May 15th. Columbia Sportswear’s dividend payout ratio (DPR) is currently 29.27%.

Columbia Sportswear 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.