Wealth Enhancement Advisory Services LLC Purchases Shares of 3,198 Columbia Sportswear (NASDAQ:COLM)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Columbia Sportswear (NASDAQ:COLM) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,198 shares of the textile maker’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in Columbia Sportswear during the fourth quarter valued at approximately $22,526,000. First Trust Advisors LP increased its holdings in shares of Columbia Sportswear by 28.3% during the 4th quarter. First Trust Advisors LP now owns 476,608 shares of the textile maker’s stock valued at $37,909,000 after purchasing an additional 105,193 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Columbia Sportswear by 10.2% in 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 purchasing an additional 104,100 shares during the period. Verition Fund Management LLC boosted its holdings in Columbia Sportswear by 1,128.3% during the fourth quarter. Verition Fund Management LLC now owns 110,106 shares of the textile maker’s stock worth $8,758,000 after buying an additional 101,142 shares in the last quarter. Finally, Truist Financial Corp acquired a new stake in Columbia Sportswear during the fourth quarter valued at $7,415,000. Institutional investors and hedge funds own 47.76% of the company’s stock.

Columbia Sportswear Price Performance

NASDAQ COLM opened at $83.36 on Tuesday. The stock’s 50 day simple moving average is $79.69 and its 200-day simple moving average is $80.29. The company has a market cap of $4.93 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94. Columbia Sportswear has a 1-year low of $66.01 and a 1-year high of $87.23.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Thursday, July 25th. The textile maker reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.14. Columbia Sportswear had a return on equity of 13.01% and a net margin of 6.72%. The company had revenue of $570.20 million for the quarter, compared to analyst estimates of $569.37 million. During the same quarter last year, the firm posted $0.14 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities research analysts anticipate that Columbia Sportswear will post 3.85 EPS for the current fiscal year.

Columbia Sportswear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.44%. Columbia Sportswear’s dividend payout ratio is presently 29.27%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Stifel Nicolaus upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and increased their price target for the stock from $84.00 to $92.00 in a research report on Monday, July 8th. Finally, Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Columbia Sportswear in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Columbia Sportswear presently has a consensus rating of “Hold” and an average price target of $77.00.

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.