Victory Capital Management Inc. Decreases Position in Columbia Sportswear (NASDAQ:COLM)

Victory Capital Management Inc. cut its holdings in Columbia Sportswear (NASDAQ:COLM - Free Report) by 97.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,953 shares of the textile maker's stock after selling 629,813 shares during the quarter. Victory Capital Management Inc.'s holdings in Columbia Sportswear were worth $1,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COLM. Vanguard Group Inc. raised its holdings in Columbia Sportswear by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,170,400 shares of the textile maker's stock worth $257,373,000 after purchasing an additional 21,104 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Columbia Sportswear by 1.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 24,707 shares of the textile maker's stock worth $2,005,000 after acquiring an additional 413 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Columbia Sportswear by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,690 shares of the textile maker's stock worth $2,005,000 after acquiring an additional 970 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Columbia Sportswear by 7.7% in the first 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. Finally, Tidal Investments LLC acquired a new position in shares of Columbia Sportswear in the first quarter worth $845,000. 47.76% of the stock is owned by institutional investors and hedge funds.

Columbia Sportswear Stock Performance

Columbia Sportswear stock traded up $0.24 during trading on Wednesday, hitting $87.16. The company's stock had a trading volume of 319,588 shares, compared to its average volume of 463,467. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 3.71 and a beta of 0.92. The stock's fifty day moving average is $81.60 and its 200 day moving average is $81.30. Columbia Sportswear has a 1-year low of $73.04 and a 1-year high of $88.62.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $931.80 million during the quarter, compared to the consensus estimate of $937.17 million. During the same quarter in the previous year, the business earned $1.70 earnings per share. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. On average, research analysts anticipate that Columbia Sportswear will post 3.87 EPS for the current fiscal year.

Columbia Sportswear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Columbia Sportswear's dividend payout ratio (DPR) is presently 33.15%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COLM. TD Cowen boosted their price target on Columbia Sportswear from $70.00 to $84.00 and gave the stock a "hold" rating in a report on Tuesday. StockNews.com upgraded Columbia Sportswear from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $78.75.

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.