Retirement Systems of Alabama Trims Stock Position in Columbia Sportswear (NASDAQ:COLM)

Retirement Systems of Alabama reduced its stake in Columbia Sportswear (NASDAQ:COLM) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,595 shares of the textile maker’s stock after selling 1,715 shares during the quarter. Retirement Systems of Alabama owned 0.07% of Columbia Sportswear worth $3,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Boston Trust Walden Corp increased its stake in Columbia Sportswear by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 1,304,761 shares of the textile maker’s stock valued at $103,180,000 after buying an additional 13,636 shares during the period. Blue Trust Inc. increased its stake in shares of Columbia Sportswear by 116.6% during the second quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock worth $34,000 after acquiring an additional 225 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Columbia Sportswear during the second quarter worth about $253,000. Dnca Finance acquired a new stake in Columbia Sportswear in the second quarter valued at about $68,000. Finally, Tidal Investments LLC purchased a new stake in Columbia Sportswear in the 1st quarter valued at approximately $845,000. Institutional investors and hedge funds own 47.76% of the company’s stock.

Columbia Sportswear Price Performance

Shares of NASDAQ COLM opened at $82.56 on Wednesday. The company has a 50-day simple moving average of $79.71 and a 200-day simple moving average of $80.30. The company has a market cap of $4.88 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94. Columbia Sportswear has a 12 month low of $66.01 and a 12 month high of $87.23.

Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Thursday, July 25th. The textile maker reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.14. Columbia Sportswear had a net margin of 6.72% and a return on equity of 13.01%. The firm had revenue of $570.20 million during the quarter, compared to analysts’ expectations of $569.37 million. During the same period in the previous year, the company earned $0.14 EPS. Columbia Sportswear’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts anticipate that Columbia Sportswear will post 3.85 EPS for the current year.

Columbia Sportswear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.45%. Columbia Sportswear’s dividend payout ratio is presently 29.27%.

Analyst Upgrades and Downgrades

COLM has been the subject of a number of analyst reports. StockNews.com cut Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Stifel Nicolaus upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating and boosted their target price for the stock from $84.00 to $92.00 in a research report on Monday, July 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $80.00 price objective on shares of Columbia Sportswear in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $77.00.

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.