Columbia Sportswear (NASDAQ:COLM) Shares Sold by Man Group plc

Man Group plc cut its stake in Columbia Sportswear (NASDAQ:COLM) by 52.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,960 shares of the textile maker’s stock after selling 86,537 shares during the period. Man Group plc owned 0.13% of Columbia Sportswear worth $6,459,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in Columbia Sportswear by 184.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the textile maker’s stock worth $25,000 after purchasing an additional 194 shares in the last quarter. Signaturefd LLC boosted its stake in Columbia Sportswear by 18.4% in the 4th quarter. Signaturefd LLC now owns 915 shares of the textile maker’s stock worth $77,000 after purchasing an additional 142 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Columbia Sportswear in the 4th quarter worth approximately $76,000. Blue Trust Inc. boosted its stake in Columbia Sportswear by 33.6% in the 4th quarter. Blue Trust Inc. now owns 942 shares of the textile maker’s stock worth $78,000 after purchasing an additional 237 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Columbia Sportswear in the 4th quarter worth approximately $139,000. 47.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Stephen E. Babson sold 2,776 shares of the business’s stock in a transaction on Friday, May 9th. The shares were 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 of the company’s stock, valued at approximately $8,460,695.46. The trade was a 2.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richelle T. Luther sold 4,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $92.36, for a total transaction of $369,440.00. Following the completion of the sale, the executive vice president now directly owns 14,283 shares of the company’s stock, valued at approximately $1,319,177.88. The trade was a 21.88% decrease in their position. The disclosure for this sale can be found here. 44.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Columbia Sportswear Price Performance

COLM opened at $66.40 on Wednesday. The firm has a fifty day moving average price of $68.59 and a 200 day moving average price of $79.59. Columbia Sportswear has a 1 year low of $58.44 and a 1 year high of $92.88. The stock has a market cap of $3.66 billion, a P/E ratio of 17.16, a P/E/G ratio of 2.54 and a beta of 1.00.

Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, May 1st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.07. Columbia Sportswear had a net margin of 6.63% and a return on equity of 12.23%. The firm had revenue of $778.45 million during the quarter, compared to analysts’ expectations of $763.50 million. During the same period in the previous year, the business posted $0.71 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Equities analysts expect that Columbia Sportswear will post 4.1 EPS for the current year.

Columbia Sportswear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, May 22nd. Columbia Sportswear’s payout ratio is presently 30.69%.

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.