Tidal Investments LLC Reduces Holdings in Columbia Sportswear (NASDAQ:COLM)

Tidal Investments LLC cut its stake in Columbia Sportswear (NASDAQ:COLM) by 7.5% in the third quarter, Holdings Channel.com reports. The fund owned 16,762 shares of the textile maker’s stock after selling 1,358 shares during the quarter. Tidal Investments LLC’s holdings in Columbia Sportswear were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of COLM. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Columbia Sportswear in the 2nd quarter valued at about $253,000. Blue Trust Inc. boosted its holdings 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 valued at $34,000 after acquiring an additional 225 shares during the period. Bank of New York Mellon Corp grew its position in shares of Columbia Sportswear by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 425,483 shares of the textile maker’s stock worth $33,647,000 after acquiring an additional 15,375 shares during the last quarter. Legato Capital Management LLC increased its holdings in shares of Columbia Sportswear by 16.2% in the 2nd quarter. Legato Capital Management LLC now owns 23,150 shares of the textile maker’s stock valued at $1,831,000 after acquiring an additional 3,231 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Columbia Sportswear by 13.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,799 shares of the textile maker’s stock valued at $696,000 after purchasing an additional 1,074 shares during the last quarter. Institutional investors and hedge funds own 47.76% of the company’s stock.

Columbia Sportswear Stock Down 3.4 %

Shares of Columbia Sportswear stock opened at $87.65 on Thursday. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 3.74 and a beta of 0.94. Columbia Sportswear has a 52-week low of $73.04 and a 52-week high of $91.30. The company’s 50-day simple moving average is $83.66 and its 200-day simple moving average is $81.77.

Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20. Columbia Sportswear had a return on equity of 12.48% and a net margin of 6.42%. The business had revenue of $931.80 million during the quarter, compared to the consensus estimate of $937.17 million. During the same period in the prior year, the business posted $1.70 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts anticipate that Columbia Sportswear will post 3.89 EPS for the current year.

Columbia Sportswear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.37%. Columbia Sportswear’s payout ratio is currently 33.15%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. TD Cowen raised their price objective on shares of Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. StockNews.com upgraded Columbia Sportswear from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Finally, Stifel Nicolaus increased their price objective on Columbia Sportswear from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $80.75.

Columbia Sportswear 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.