Columbia Sportswear Company (NASDAQ:COLM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Columbia Sportswear Company (NASDAQ:COLM) by 7.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 387,592 shares of the textile maker’s stock after selling 30,939 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.70% of Columbia Sportswear worth $29,337,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC increased its stake in Columbia Sportswear by 12,400.0% in the first quarter. Whipplewood Advisors LLC now owns 625 shares of the textile maker’s stock valued at $47,000 after purchasing an additional 620 shares during the last quarter. Signaturefd LLC increased its stake in Columbia Sportswear by 18.4% in the fourth quarter. Signaturefd LLC now owns 915 shares of the textile maker’s stock valued at $77,000 after purchasing an additional 142 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Columbia Sportswear in the fourth quarter valued at $76,000. Kapitalo Investimentos Ltda acquired a new position in Columbia Sportswear in the fourth quarter valued at $139,000. Finally, Covestor Ltd grew its position in Columbia Sportswear by 13.0% during the fourth quarter. Covestor Ltd now owns 2,101 shares of the textile maker’s stock valued at $177,000 after acquiring an additional 241 shares during the period. 47.76% of the stock is owned by institutional investors and hedge funds.

Columbia Sportswear Stock Up 1.1%

Shares of NASDAQ COLM opened at $59.28 on Thursday. The stock’s 50 day moving average price is $63.14 and its two-hundred day moving average price is $72.85. The stock has a market capitalization of $3.27 billion, a P/E ratio of 15.16, a PEG ratio of 3.94 and a beta of 0.97. Columbia Sportswear Company has a 52-week low of $58.44 and a 52-week high of $92.88.

Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, May 1st. The textile maker reported $0.75 EPS for the quarter, beating the consensus estimate of $0.68 by $0.07. Columbia Sportswear had a return on equity of 12.57% and a net margin of 6.61%. The firm had revenue of $778.45 million for the quarter, compared to analysts’ expectations of $763.50 million. During the same period last year, the firm earned $0.71 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Columbia Sportswear Company will post 4.1 EPS for the current year.

Columbia Sportswear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were given a $0.30 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.20 annualized dividend and a dividend yield of 2.02%. Columbia Sportswear’s dividend payout ratio (DPR) is presently 30.69%.

Insider Activity at Columbia Sportswear

In other news, Director Stephen E. Babson sold 2,776 shares of the firm’s stock in a transaction 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 owned 128,309 shares of the company’s stock, valued at $8,460,695.46. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 48.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on COLM shares. Needham & Company LLC assumed coverage on Columbia Sportswear in a research report on Friday, May 30th. They set a “hold” rating for the company. Citigroup reiterated a “neutral” rating and issued a $68.00 price target (down previously from $80.00) on shares of Columbia Sportswear in a research note on Monday, April 7th. Barclays cut their price target on Columbia Sportswear from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd. Stifel Nicolaus cut their price target 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. Finally, UBS Group boosted their price target on Columbia Sportswear from $42.00 to $51.00 and gave the stock a “sell” rating in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Columbia Sportswear presently has an average rating of “Hold” and an average price target of $70.00.

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.