Rhumbline Advisers Cuts Stock Position in Columbia Sportswear (NASDAQ:COLM)

Rhumbline Advisers lessened its holdings in Columbia Sportswear (NASDAQ:COLM) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,293 shares of the textile maker’s stock after selling 280 shares during the quarter. Rhumbline Advisers’ holdings in Columbia Sportswear were worth $2,838,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of COLM. South Texas Money Management Ltd. acquired a new stake in Columbia Sportswear in the second quarter worth about $18,265,000. Zions Bancorporation N.A. acquired a new stake in Columbia Sportswear in the second quarter worth about $194,000. Boston Private Wealth LLC acquired a new stake in Columbia Sportswear in the second quarter worth about $703,000. Campbell & CO Investment Adviser LLC acquired a new stake in Columbia Sportswear in the second quarter worth about $221,000. Finally, Handelsbanken Fonder AB boosted its holdings in Columbia Sportswear by 308.6% in the second quarter. Handelsbanken Fonder AB now owns 364,100 shares of the textile maker’s stock worth $36,468,000 after acquiring an additional 275,000 shares in the last quarter. 37.55% of the stock is owned by institutional investors and hedge funds.

Shares of Columbia Sportswear stock traded down $0.13 on Tuesday, reaching $94.12. 3,803 shares of the stock were exchanged, compared to its average volume of 373,122. The company has a quick ratio of 1.76, a current ratio of 3.04 and a debt-to-equity ratio of 0.21. Columbia Sportswear has a twelve month low of $80.03 and a twelve month high of $109.74. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 1.81 and a beta of 0.67. The business has a 50 day moving average price of $95.80 and a two-hundred day moving average price of $97.81.

Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Wednesday, October 30th. The textile maker reported $1.75 EPS for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.20. Columbia Sportswear had a return on equity of 19.14% and a net margin of 10.97%. The firm had revenue of $906.80 million during the quarter, compared to the consensus estimate of $883.31 million. During the same quarter in the previous year, the company posted $1.41 earnings per share. The company’s revenue was up 13.9% compared to the same quarter last year. Research analysts forecast that Columbia Sportswear will post 4.72 EPS for the current year.

COLM has been the subject of several recent analyst reports. BidaskClub downgraded Columbia Sportswear from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Pivotal Research lowered their price target on Columbia Sportswear from $125.00 to $117.00 and set a “buy” rating for the company in a report on Monday, October 28th. DA Davidson reissued a “buy” rating on shares of Columbia Sportswear in a report on Monday, November 4th. Stifel Nicolaus set a $129.00 price target on Columbia Sportswear and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, B. Riley set a $109.00 price target on Columbia Sportswear and gave the stock a “hold” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $119.15.

About Columbia Sportswear

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 and 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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