The Manufacturers Life Insurance Company Sells 2,307 Shares of Columbia Sportswear (NASDAQ:COLM)

The Manufacturers Life Insurance Company cut its holdings in Columbia Sportswear (NASDAQ:COLM) by 7.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,216 shares of the textile maker’s stock after selling 2,307 shares during the period. The Manufacturers Life Insurance Company’s holdings in Columbia Sportswear were worth $2,347,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COLM. Impax Asset Management Group plc raised its stake in shares of Columbia Sportswear by 79.2% in the third quarter. Impax Asset Management Group plc now owns 90,515 shares of the textile maker’s stock worth $7,530,000 after purchasing an additional 40,000 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Columbia Sportswear in the 3rd quarter worth about $7,676,000. Pacer Advisors Inc. raised its position in Columbia Sportswear by 44.3% in the 2nd quarter. Pacer Advisors Inc. now owns 1,480,868 shares of the textile maker’s stock worth $117,107,000 after buying an additional 454,738 shares during the last quarter. MQS Management LLC purchased a new stake in shares of Columbia Sportswear during the 3rd quarter valued at about $499,000. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Columbia Sportswear by 113.7% in the third quarter. Crossmark Global Holdings Inc. now owns 36,481 shares of the textile maker’s stock worth $3,034,000 after acquiring an additional 19,413 shares during the period. 47.76% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Sportswear Trading Up 0.5 %

Shares of NASDAQ COLM opened at $88.35 on Monday. Columbia Sportswear has a 12-month low of $73.04 and a 12-month high of $89.57. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 3.72 and a beta of 0.94. The firm has a 50 day moving average of $82.58 and a 200 day moving average of $81.49.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.20. Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.48%. The firm had revenue of $931.80 million during the quarter, compared to the consensus estimate of $937.17 million. During the same quarter in the previous year, the firm posted $1.70 EPS. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Columbia Sportswear will post 3.89 EPS for the current year.

Columbia Sportswear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Wednesday, November 20th. Columbia Sportswear’s payout ratio is 33.15%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on COLM shares. StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research report on Thursday. TD Cowen increased their price target on Columbia Sportswear from $70.00 to $84.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $78.75.

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.