Bank of New York Mellon Corp Buys 15,375 Shares of Columbia Sportswear (NASDAQ:COLM)

Bank of New York Mellon Corp grew its stake in shares of Columbia Sportswear (NASDAQ:COLM - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,483 shares of the textile maker's stock after acquiring an additional 15,375 shares during the period. Bank of New York Mellon Corp owned about 0.72% of Columbia Sportswear worth $33,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of COLM. Louisiana State Employees Retirement System raised its stake in Columbia Sportswear by 2.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the textile maker's stock valued at $804,000 after purchasing an additional 200 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Columbia Sportswear by 2.4% during the first quarter. State of Michigan Retirement System now owns 8,474 shares of the textile maker's stock worth $688,000 after acquiring an additional 200 shares in the last quarter. Blue Trust Inc. lifted its stake in 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 buying an additional 225 shares in the last quarter. Kapitalo Investimentos Ltda boosted its position in shares of Columbia Sportswear by 9.9% during the fourth quarter. Kapitalo Investimentos Ltda now owns 3,694 shares of the textile maker's stock worth $294,000 after buying an additional 332 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its position in Columbia Sportswear by 7.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,698 shares of the textile maker's stock worth $348,000 after acquiring an additional 336 shares during the last quarter. 47.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on COLM. Wedbush reiterated a "neutral" rating and set a $80.00 price objective on shares of Columbia Sportswear in a research report on Thursday, July 18th. Stifel Nicolaus raised Columbia Sportswear from a "hold" rating to a "buy" rating and lifted their price target for the company from $84.00 to $92.00 in a research note on Monday, July 8th. Finally, StockNews.com lowered Columbia Sportswear from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Columbia Sportswear currently has an average rating of "Hold" and a consensus price target of $77.00.

Columbia Sportswear Price Performance

COLM stock traded up $0.14 on Tuesday, reaching $80.87. 409,529 shares of the company traded hands, compared to its average volume of 479,825. Columbia Sportswear has a one year low of $66.01 and a one year high of $87.23. The company has a market cap of $4.78 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94. The firm has a fifty day simple moving average of $79.52 and a 200-day simple moving average of $80.29.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last released its earnings results on Thursday, July 25th. The textile maker reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.14. The company 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%. Columbia Sportswear's quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. On average, sell-side analysts forecast that Columbia Sportswear will post 3.85 EPS for the current year.

Columbia Sportswear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.48%. Columbia Sportswear's payout ratio is currently 29.27%.

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.