State of Michigan Retirement System Sells 400 Shares of Columbia Sportswear (NASDAQ:COLM)

State of Michigan Retirement System reduced its stake in Columbia Sportswear (NASDAQ:COLM) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,074 shares of the textile maker’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Columbia Sportswear were worth $638,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COLM. Vanguard Group Inc. grew its stake in Columbia Sportswear by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,170,400 shares of the textile maker’s stock worth $257,373,000 after purchasing an additional 21,104 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Columbia Sportswear by 1.1% during the 2nd quarter. Boston Trust Walden Corp now owns 1,304,761 shares of the textile maker’s stock worth $103,180,000 after buying an additional 13,636 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Columbia Sportswear by 10.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,128,258 shares of the textile maker’s stock valued at $89,745,000 after buying an additional 104,100 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 18,001 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Columbia Sportswear by 28.3% in the fourth quarter. First Trust Advisors LP now owns 476,608 shares of the textile maker’s stock worth $37,909,000 after acquiring an additional 105,193 shares during the period. 47.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented 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 raised shares of Columbia Sportswear from a “hold” rating to a “buy” rating and lifted their price objective for the company from $84.00 to $92.00 in a report on Monday, July 8th. Finally, Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Columbia Sportswear in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.00.

Columbia Sportswear Stock Up 0.3 %

Shares of Columbia Sportswear stock opened at $80.73 on Friday. The company has a market cap of $4.77 billion, a P/E ratio of 19.69, a PEG ratio of 2.94 and a beta of 0.94. The firm’s 50 day moving average price is $79.60 and its 200-day moving average price is $80.30. Columbia Sportswear has a 52-week low of $66.01 and a 52-week high of $87.23.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Thursday, July 25th. The textile maker reported ($0.20) earnings per share (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 business had revenue of $570.20 million for the quarter, compared to analyst estimates of $569.37 million. During the same period in the previous year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Columbia Sportswear will post 3.85 EPS for the current fiscal year.

Columbia Sportswear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, August 15th. Columbia Sportswear’s dividend payout ratio (DPR) is presently 29.27%.

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.