Principal Financial Group Inc. Trims Stake in Columbia Sportswear (NASDAQ:COLM)

Principal Financial Group Inc. cut its holdings in shares of Columbia Sportswear (NASDAQ:COLM) by 13.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,191 shares of the textile maker’s stock after selling 17,738 shares during the quarter. Principal Financial Group Inc. owned about 0.19% of Columbia Sportswear worth $8,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Columbia Sportswear by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 515,735 shares of the textile maker’s stock valued at $41,022,000 after purchasing an additional 18,001 shares during the period. Trexquant Investment LP lifted its stake in Columbia Sportswear by 58.7% during the 4th quarter. Trexquant Investment LP now owns 39,446 shares of the textile maker’s stock worth $3,138,000 after acquiring an additional 14,588 shares in the last quarter. Duality Advisers LP boosted its holdings in Columbia Sportswear by 225.2% during the 1st quarter. Duality Advisers LP now owns 40,244 shares of the textile maker’s stock valued at $3,267,000 after acquiring an additional 27,868 shares during the period. Quantbot Technologies LP grew its position in Columbia Sportswear by 1,964.4% in the 1st quarter. Quantbot Technologies LP now owns 10,322 shares of the textile maker’s stock valued at $838,000 after acquiring an additional 9,822 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in Columbia Sportswear in the 4th quarter valued at about $1,110,000. 47.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on COLM. Wedbush reissued a “neutral” rating and issued a $80.00 price objective on shares of Columbia Sportswear in a research note on Thursday, July 18th. StockNews.com cut shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus raised Columbia Sportswear from a “hold” rating to a “buy” rating and upped their price objective for the stock from $84.00 to $92.00 in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $77.00.

Columbia Sportswear Trading Up 0.0 %

Shares of COLM opened at $81.52 on Friday. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 3.00 and a beta of 0.92. The firm’s fifty day simple moving average is $79.66 and its 200-day simple moving average is $80.31. Columbia Sportswear has a twelve month low of $66.01 and a twelve month high of $87.23.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported ($0.20) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $569.37 million. During the same period in the previous year, the business earned $0.14 EPS. Columbia Sportswear’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts predict that Columbia Sportswear will post 3.85 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, August 15th. Columbia Sportswear’s payout ratio is 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.