JPMorgan Chase & Co. raised its stake in shares of Columbia Sportswear (NASDAQ:COLM – Get Rating) by 25.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,374,290 shares of the textile maker’s stock after acquiring an additional 276,930 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.19% of Columbia Sportswear worth $98,372,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of COLM. Meeder Asset Management Inc. purchased a new stake in shares of Columbia Sportswear during the 1st quarter valued at $27,000. Fifth Third Bancorp lifted its holdings in shares of Columbia Sportswear by 342.4% during the 2nd quarter. Fifth Third Bancorp now owns 438 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 339 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Columbia Sportswear during the 1st quarter valued at $45,000. Northwest Investment Counselors LLC purchased a new stake in shares of Columbia Sportswear during the 2nd quarter valued at $49,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Columbia Sportswear by 233.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 716 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 501 shares during the last quarter. Institutional investors own 48.56% of the company’s stock.
Insider Buying and Selling at Columbia Sportswear
In related news, CFO Jim A. Swanson acquired 500 shares of Columbia Sportswear stock in a transaction on Monday, August 29th. The stock was acquired at an average price of $72.99 per share, for a total transaction of $36,495.00. Following the purchase, the chief financial officer now owns 5,197 shares of the company’s stock, valued at approximately $379,329.03. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 42.37% of the company’s stock.
Columbia Sportswear Stock Performance
Columbia Sportswear Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.38%. Columbia Sportswear’s payout ratio is currently 22.51%.
Analysts Set New Price Targets
COLM has been the subject of several analyst reports. Robert W. Baird decreased their price objective on Columbia Sportswear from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. Cowen increased their price objective on Columbia Sportswear to $89.00 in a report on Tuesday, November 1st. UBS Group reduced their target price on Columbia Sportswear from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Citigroup reduced their target price on Columbia Sportswear from $98.00 to $80.00 in a research note on Thursday, July 28th. Finally, Cowen raised their target price on Columbia Sportswear from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 27th. 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 a consensus target price of $86.88.
About Columbia Sportswear
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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