Envestnet Asset Management Inc. Raises Stock Holdings in Columbia Sportswear (NASDAQ:COLM)

Envestnet Asset Management Inc. increased its position in Columbia Sportswear (NASDAQ:COLM) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,608 shares of the textile maker’s stock after purchasing an additional 1,609 shares during the period. Envestnet Asset Management Inc. owned 0.11% of Columbia Sportswear worth $5,030,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Columbia Sportswear by 116.6% in the second quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock worth $34,000 after acquiring an additional 225 shares during the last quarter. TFO Wealth Partners LLC grew its stake in shares of Columbia Sportswear by 11,725.0% in the fourth quarter. TFO Wealth Partners LLC now owns 473 shares of the textile maker’s stock worth $38,000 after acquiring an additional 469 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Columbia Sportswear by 174.8% in the first quarter. Headlands Technologies LLC now owns 599 shares of the textile maker’s stock worth $49,000 after acquiring an additional 381 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Columbia Sportswear in the first quarter worth $64,000. Finally, Dnca Finance purchased a new stake in shares of Columbia Sportswear in the second quarter worth $68,000. 47.76% of the stock is owned by hedge funds and other institutional investors.

Columbia Sportswear Price Performance

Shares of NASDAQ:COLM opened at $83.19 on Tuesday. The company has a market cap of $4.92 billion, a P/E ratio of 20.29, a PEG ratio of 3.01 and a beta of 0.92. Columbia Sportswear has a 1 year low of $66.01 and a 1 year high of $87.23. The stock’s fifty day moving average price is $80.80 and its 200-day moving average price is $80.40.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.14. The firm had revenue of $570.20 million for the quarter, compared to the consensus estimate of $569.37 million. Columbia Sportswear had a return on equity of 13.01% and a net margin of 6.72%. The company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. On average, sell-side analysts anticipate that Columbia Sportswear will post 3.85 earnings per share for the current year.

Columbia Sportswear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Thursday, August 15th. Columbia Sportswear’s dividend payout ratio is 29.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com raised Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus raised Columbia Sportswear from a “hold” rating to a “buy” rating and increased their target price for the stock from $84.00 to $92.00 in a research note on Monday, July 8th. Finally, Wedbush reissued a “neutral” rating and issued a $80.00 target price on shares of Columbia Sportswear in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.00.

Columbia Sportswear Company 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.