Teacher Retirement System of Texas Acquires New Holdings in Columbia Sportswear Company (NASDAQ:COLM)

Teacher Retirement System of Texas bought a new stake in shares of Columbia Sportswear Company (NASDAQ:COLM) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 6,838 shares of the textile maker’s stock, valued at approximately $518,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its position in Columbia Sportswear by 2.4% during the fourth quarter. Victory Capital Management Inc. now owns 15,318 shares of the textile maker’s stock worth $1,286,000 after buying an additional 365 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Columbia Sportswear in the fourth quarter valued at $1,472,000. Raymond James Financial Inc. purchased a new stake in Columbia Sportswear during the 4th quarter worth about $1,904,000. Amundi raised its stake in Columbia Sportswear by 40.7% in the 4th quarter. Amundi now owns 2,746 shares of the textile maker’s stock valued at $227,000 after purchasing an additional 794 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in Columbia Sportswear by 48.6% in the 4th quarter. Natixis Advisors LLC now owns 143,831 shares of the textile maker’s stock valued at $12,072,000 after purchasing an additional 47,031 shares during the last quarter. Institutional investors and hedge funds own 47.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group upped their target price on Columbia Sportswear from $42.00 to $51.00 and gave the company a “sell” rating in a research note on Monday, April 14th. Barclays lowered their price target on Columbia Sportswear from $64.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Citigroup reiterated a “neutral” rating and set a $68.00 price objective (down from $80.00) on shares of Columbia Sportswear in a report on Monday, April 7th. Needham & Company LLC initiated coverage on shares of Columbia Sportswear in a research report on Friday, May 30th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus lowered their target price on shares of Columbia Sportswear from $91.00 to $75.00 and set a “buy” rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.00.

Columbia Sportswear Stock Performance

Columbia Sportswear stock opened at $59.28 on Thursday. The firm has a market capitalization of $3.27 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 3.94 and a beta of 0.97. Columbia Sportswear Company has a one year low of $58.44 and a one year high of $92.88. The stock’s 50 day moving average price is $63.14 and its 200 day moving average price is $72.85.

Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings data on Thursday, May 1st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The company had revenue of $778.45 million for the quarter, compared to analyst estimates of $763.50 million. Columbia Sportswear had a net margin of 6.61% and a return on equity of 12.57%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. On average, analysts forecast that Columbia Sportswear Company will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Announces Dividend

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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Thursday, May 22nd. Columbia Sportswear’s payout ratio is 30.69%.

Insider Activity at Columbia Sportswear

In related news, Director Stephen E. Babson sold 2,776 shares of the stock in a transaction dated 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 transaction, the director owned 128,309 shares of the company’s stock, valued at approximately $8,460,695.46. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 48.30% of the company’s stock.

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.