Cadence Capital Management LLC Buys New Holdings in Columbia Sportswear (COLM)

Cadence Capital Management LLC bought a new position in shares of Columbia Sportswear (NASDAQ:COLM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,797 shares of the textile maker’s stock, valued at approximately $1,377,000.

Several other institutional investors also recently modified their holdings of COLM. Public Employees Retirement Association of Colorado acquired a new position in shares of Columbia Sportswear during the 2nd quarter worth approximately $104,000. Point72 Asset Management L.P. acquired a new position in shares of Columbia Sportswear during the 2nd quarter worth approximately $119,000. Fort L.P. acquired a new position in shares of Columbia Sportswear during the 2nd quarter worth approximately $121,000. NewSquare Capital LLC acquired a new position in shares of Columbia Sportswear during the 2nd quarter worth approximately $165,000. Finally, Zeke Capital Advisors LLC acquired a new position in shares of Columbia Sportswear during the 2nd quarter worth approximately $202,000. Institutional investors and hedge funds own 39.12% of the company’s stock.

COLM opened at $93.05 on Friday. Columbia Sportswear has a one year low of $62.15 and a one year high of $95.58. The company has a market capitalization of $6.47 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 2.40 and a beta of 0.71.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Thursday, October 25th. The textile maker reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.14. Columbia Sportswear had a return on equity of 15.43% and a net margin of 5.56%. The firm had revenue of $795.80 million for the quarter, compared to analysts’ expectations of $791.25 million. Equities analysts anticipate that Columbia Sportswear will post 3.61 EPS for the current fiscal year.

Columbia Sportswear declared that its board has approved a share repurchase program on Monday, August 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the textile maker to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 15th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, November 14th. This is a boost from Columbia Sportswear’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 1.03%. Columbia Sportswear’s dividend payout ratio is currently 29.53%.

In other Columbia Sportswear news, Director Andy D. Bryant sold 13,274 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $91.75, for a total transaction of $1,217,889.50. Following the transaction, the director now directly owns 42,060 shares in the company, valued at $3,859,005. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas H. Morse sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $91.00, for a total value of $136,500.00. Following the transaction, the senior vice president now owns 2,648 shares in the company, valued at $240,968. The disclosure for this sale can be found here. Insiders sold 21,935 shares of company stock worth $2,007,535 over the last quarter. 56.68% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on COLM. Buckingham Research boosted their target price on Columbia Sportswear from $84.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 17th. Needham & Company LLC restated a “buy” rating and set a $98.00 target price on shares of Columbia Sportswear in a report on Friday, July 27th. Pivotal Research cut Columbia Sportswear from a “buy” rating to a “hold” rating and boosted their target price for the stock from $95.00 to $96.00 in a report on Wednesday, July 25th. Wedbush boosted their target price on Columbia Sportswear from $102.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, October 3rd. Finally, Cowen upgraded Columbia Sportswear from a “market perform” rating to an “outperform” rating and set a $59.00 target price on the stock in a report on Wednesday, August 15th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $90.18.

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Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active 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 that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.

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Institutional Ownership by Quarter for Columbia Sportswear (NASDAQ:COLM)

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