Wells Fargo & Company MN Buys 125,912 Shares of Columbia Sportswear (NASDAQ:COLM)

Wells Fargo & Company MN boosted its holdings in Columbia Sportswear (NASDAQ:COLM) by 106.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 244,605 shares of the textile maker’s stock after buying an additional 125,912 shares during the period. Wells Fargo & Company MN owned approximately 0.37% of Columbia Sportswear worth $24,060,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley increased its position in Columbia Sportswear by 106.0% in the 2nd quarter. Morgan Stanley now owns 130,478 shares of the textile maker’s stock worth $12,834,000 after buying an additional 67,154 shares during the period. The Manufacturers Life Insurance Company increased its position in Columbia Sportswear by 25.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 214,519 shares of the textile maker’s stock worth $21,100,000 after buying an additional 43,074 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Columbia Sportswear in the 2nd quarter worth approximately $1,786,000. Caxton Associates LP bought a new position in Columbia Sportswear in the 2nd quarter worth approximately $314,000. Finally, JustInvest LLC bought a new position in Columbia Sportswear in the 2nd quarter worth approximately $220,000. 51.67% of the stock is currently owned by institutional investors.

Several brokerages have commented on COLM. Bank of America downgraded Columbia Sportswear from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $137.00 to $108.00 in a research report on Tuesday, October 5th. Pivotal Research reissued a “hold” rating and set a $116.00 price objective on shares of Columbia Sportswear in a report on Wednesday, July 28th. Finally, Zacks Investment Research lowered Columbia Sportswear from a “buy” rating to a “hold” rating and set a $104.00 price objective on the stock. in a report on Tuesday, October 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $117.60.

Shares of COLM stock opened at $103.13 on Thursday. The stock’s fifty day simple moving average is $100.48 and its 200 day simple moving average is $101.17. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 0.64 and a beta of 0.90. Columbia Sportswear has a one year low of $81.76 and a one year high of $114.98.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, October 28th. The textile maker reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.21. The business had revenue of $804.70 million for the quarter, compared to analyst estimates of $862.03 million. Columbia Sportswear had a return on equity of 15.74% and a net margin of 10.06%. Columbia Sportswear’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, research analysts anticipate that Columbia Sportswear will post 4.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 2nd. Investors of record on Thursday, November 18th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, November 17th. Columbia Sportswear’s dividend payout ratio is 23.58%.

In other Columbia Sportswear news, EVP Lisa Kulok sold 525 shares of the business’s stock in a transaction on Tuesday, August 31st. The stock was sold at an average price of $103.13, for a total value of $54,143.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Walter Klenz sold 1,192 shares of the business’s stock in a transaction on Friday, November 12th. The stock was sold at an average price of $105.97, for a total value of $126,316.24. The disclosure for this sale can be found here. 40.33% of the stock is owned by insiders.

About Columbia Sportswear

Columbia Sportswear Co engages in designing, sourcing, marketing, and distributing outdoor and active lifestyle apparel, footwear, accessories, and equipment. It operates through the following geographical segments: the United States; Latin America and Asia Pacific; Europe, Middle East, and Africa; and Canada.

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

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