JPMorgan Chase & Co. Sells 15,949 Shares of Columbia Sportswear (NASDAQ:COLM)

JPMorgan Chase & Co. lessened its stake in Columbia Sportswear (NASDAQ:COLM) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 680,775 shares of the textile maker’s stock after selling 15,949 shares during the quarter. JPMorgan Chase & Co.’s holdings in Columbia Sportswear were worth $56,634,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. grew its position in Columbia Sportswear by 2.1% in the 3rd quarter. Franklin Resources Inc. now owns 212,061 shares of the textile maker’s stock worth $16,950,000 after purchasing an additional 4,425 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Columbia Sportswear by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 604,824 shares of the textile maker’s stock worth $50,328,000 after buying an additional 4,727 shares during the last quarter. Petrus Trust Company LTA bought a new position in shares of Columbia Sportswear in the third quarter valued at approximately $715,000. Holocene Advisors LP lifted its holdings in Columbia Sportswear by 71.8% during the third quarter. Holocene Advisors LP now owns 57,200 shares of the textile maker’s stock worth $4,758,000 after acquiring an additional 23,909 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Columbia Sportswear by 0.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,102 shares of the textile maker’s stock worth $8,910,000 after purchasing an additional 794 shares during the last quarter. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Columbia Sportswear Price Performance

Shares of NASDAQ:COLM opened at $82.67 on Friday. The firm has a market capitalization of $4.73 billion, a PE ratio of 22.84, a P/E/G ratio of 3.74 and a beta of 0.93. The company has a 50-day moving average price of $85.10 and a two-hundred day moving average price of $82.05. Columbia Sportswear has a twelve month low of $73.04 and a twelve month high of $91.30.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Wednesday, October 30th. The textile maker reported $1.56 EPS for the quarter, topping the consensus estimate of $1.36 by $0.20. Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.48%. The company had revenue of $931.80 million during the quarter, compared to the consensus estimate of $937.17 million. During the same period last year, the firm earned $1.70 EPS. Columbia Sportswear’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts anticipate that Columbia Sportswear will post 3.89 earnings per share for the current fiscal year.

Columbia Sportswear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.45%. Columbia Sportswear’s dividend payout ratio (DPR) is 33.15%.

Analysts Set New Price Targets

A number of research firms have recently commented on COLM. TD Cowen lifted their target price on Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Stifel Nicolaus lifted their price objective on shares of Columbia Sportswear from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Columbia Sportswear currently has an average rating of “Hold” and a consensus price target of $80.75.

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.