M&T Bank Corp Reduces Stock Holdings in Columbia Sportswear Company (NASDAQ:COLM)

M&T Bank Corp lowered its position in Columbia Sportswear Company (NASDAQ:COLM) by 29.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,763 shares of the textile maker’s stock after selling 1,150 shares during the quarter. M&T Bank Corp’s holdings in Columbia Sportswear were worth $209,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC increased its position in shares of 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 buying an additional 620 shares in the last quarter. Signaturefd LLC increased its position in shares of 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 buying an additional 142 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Columbia Sportswear in the fourth quarter valued at $76,000. Kapitalo Investimentos Ltda purchased a new position in shares of Columbia Sportswear in the fourth quarter valued at $139,000. Finally, Covestor Ltd increased its position in shares of Columbia Sportswear by 13.0% in the fourth quarter. Covestor Ltd now owns 2,101 shares of the textile maker’s stock valued at $177,000 after buying an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Columbia Sportswear Trading Down 0.5%

Shares of NASDAQ:COLM opened at $59.61 on Friday. The stock’s 50-day moving average price is $62.86 and its two-hundred day moving average price is $72.52. Columbia Sportswear Company has a 12-month low of $58.44 and a 12-month high of $92.88. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 3.97 and a beta of 0.97.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Thursday, May 1st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $763.50 million. During the same period last year, the company earned $0.71 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, research analysts forecast that Columbia Sportswear Company will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, May 22nd. Columbia Sportswear’s payout ratio is 30.69%.

Insider Buying and Selling at Columbia Sportswear

In other news, Director Stephen E. Babson sold 2,776 shares of Columbia Sportswear 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 transaction, the director directly owned 128,309 shares of the company’s stock, valued at $8,460,695.46. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 48.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COLM has been the topic of a number of analyst reports. Needham & Company LLC assumed coverage on Columbia Sportswear in a research note on Friday, May 30th. They set a “hold” rating on the stock. Citigroup reiterated a “neutral” rating and set a $68.00 price objective (down previously from $80.00) on shares of Columbia Sportswear in a research report on Monday, April 7th. Stifel Nicolaus dropped their price objective on Columbia Sportswear from $91.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Barclays dropped their price objective on Columbia Sportswear from $64.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. Finally, UBS Group lifted their price objective on Columbia Sportswear from $42.00 to $51.00 and gave the stock a “sell” rating in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $68.00.

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.