State of Michigan Retirement System Decreases Holdings in Columbia Sportswear (NASDAQ:COLM)

State of Michigan Retirement System decreased its holdings in Columbia Sportswear (NASDAQ:COLMGet Rating) by 3.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,474 shares of the textile maker’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in Columbia Sportswear were worth $607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its stake in Columbia Sportswear by 56.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 5,000 shares of the textile maker’s stock worth $453,000 after purchasing an additional 1,800 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Columbia Sportswear by 233.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 716 shares of the textile maker’s stock worth $65,000 after purchasing an additional 501 shares during the last quarter. Bank of America Corp DE lifted its stake in Columbia Sportswear by 10.7% in the first quarter. Bank of America Corp DE now owns 312,841 shares of the textile maker’s stock worth $28,323,000 after purchasing an additional 30,193 shares during the last quarter. Aviva PLC lifted its stake in Columbia Sportswear by 8.1% in the second quarter. Aviva PLC now owns 37,565 shares of the textile maker’s stock worth $2,689,000 after purchasing an additional 2,812 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Columbia Sportswear in the first quarter worth $442,000. Institutional investors own 48.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on COLM. Cowen boosted their price target on shares of Columbia Sportswear to $89.00 in a research note on Tuesday, November 1st. Stifel Nicolaus lowered their price objective on shares of Columbia Sportswear from $100.00 to $81.00 in a research note on Wednesday, July 20th. Robert W. Baird lowered their price objective on shares of Columbia Sportswear from $85.00 to $82.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Cowen upped their price objective on shares of Columbia Sportswear from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, September 27th. Finally, Citigroup lowered their price objective on shares of Columbia Sportswear from $98.00 to $80.00 in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $86.88.

Columbia Sportswear Price Performance

Shares of NASDAQ COLM opened at $80.51 on Tuesday. Columbia Sportswear has a 1 year low of $65.02 and a 1 year high of $107.50. The company’s 50-day moving average is $72.81 and its 200 day moving average is $74.35. The stock has a market capitalization of $5.00 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.84 and a beta of 0.88.

Columbia Sportswear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Wednesday, November 16th. Columbia Sportswear’s dividend payout ratio (DPR) is presently 22.51%.

Insiders Place Their Bets

In other Columbia Sportswear news, CFO Jim A. Swanson acquired 500 shares of the business’s stock in a transaction on Monday, August 29th. The shares were acquired at an average price of $72.99 per share, for a total transaction of $36,495.00. Following the completion of the acquisition, the chief financial officer now owns 5,197 shares in the company, valued at $379,329.03. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 42.37% of the company’s stock.

Columbia Sportswear Profile

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Columbia Sportswear Company, together with its subsidiaries, designs, sources, 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 that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel.

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

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