Gotham Asset Management LLC Sells 42,038 Shares of Columbia Sportswear (NASDAQ:COLM)

Gotham Asset Management LLC reduced its holdings in Columbia Sportswear (NASDAQ:COLM) by 39.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,036 shares of the textile maker’s stock after selling 42,038 shares during the quarter. Gotham Asset Management LLC owned 0.11% of Columbia Sportswear worth $5,375,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Deutsche Bank AG increased its stake in Columbia Sportswear by 3.7% in the 4th quarter. Deutsche Bank AG now owns 3,911 shares of the textile maker’s stock worth $328,000 after acquiring an additional 141 shares during the last quarter. Crestline Management LP increased its stake in Columbia Sportswear by 272.6% in the 4th quarter. Crestline Management LP now owns 43,612 shares of the textile maker’s stock worth $3,660,000 after acquiring an additional 31,906 shares during the last quarter. Cetera Investment Advisers bought a new position in Columbia Sportswear in the 4th quarter worth about $214,000. Bridgefront Capital LLC bought a new position in Columbia Sportswear in the 4th quarter worth about $264,000. Finally, Baird Financial Group Inc. increased its stake in Columbia Sportswear by 144.2% in the 4th quarter. Baird Financial Group Inc. now owns 2,767 shares of the textile maker’s stock worth $232,000 after acquiring an additional 1,634 shares during the last quarter. 47.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COLM. Stifel Nicolaus decreased their target price on Columbia Sportswear from $91.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Barclays decreased their price objective on Columbia Sportswear from $64.00 to $62.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Citigroup reissued a “neutral” rating and set a $68.00 price objective (down from $80.00) on shares of Columbia Sportswear in a report on Monday, April 7th. UBS Group raised their price objective on Columbia Sportswear from $42.00 to $51.00 and gave the company a “sell” rating in a report on Monday, April 14th. Finally, StockNews.com cut Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $70.00.

Insider Transactions at Columbia Sportswear

In other news, Director Ronald E. Nelson sold 6,395 shares of Columbia Sportswear stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.74, for a total value of $522,727.30. Following the sale, the director now directly owns 17,048 shares in the company, valued at approximately $1,393,503.52. This trade represents a 27.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen E. Babson sold 2,776 shares of Columbia Sportswear stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $65.94, for a total value of $183,049.44. Following the completion of the sale, the director now owns 128,309 shares in the company, valued at approximately $8,460,695.46. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,171 shares of company stock worth $1,075,217. 44.70% of the stock is currently owned by insiders.

Columbia Sportswear Price Performance

COLM opened at $68.63 on Wednesday. The stock’s 50 day simple moving average is $70.07 and its 200 day simple moving average is $79.98. Columbia Sportswear has a 1 year low of $58.44 and a 1 year high of $92.88. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.54 and a beta of 1.00.

Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings results on Thursday, May 1st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.07. Columbia Sportswear had a return on equity of 12.23% and a net margin of 6.63%. The business had revenue of $778.45 million for the quarter, compared to analyst estimates of $763.50 million. During the same period last year, the company earned $0.71 EPS. Columbia Sportswear’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Columbia Sportswear will post 4.1 EPS for the current year.

Columbia Sportswear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.75%. Columbia Sportswear’s dividend payout ratio is currently 30.69%.

Columbia Sportswear Profile

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.