First Trust Advisors LP acquired a new stake in shares of Columbia Sportswear Co. (NASDAQ:COLM) during the second quarter, Holdings Channel reports. The firm acquired 16,762 shares of the company’s stock, valued at approximately $964,000.
Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Columbia Sportswear by 15.8% in the first quarter. BlackRock Inc. now owns 1,992 shares of the company’s stock worth $119,000 after buying an additional 272 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Columbia Sportswear during the first quarter worth $226,000. Cypress Wealth Advisors LLC acquired a new stake in Columbia Sportswear during the first quarter worth $230,000. Intrust Bank NA acquired a new stake in Columbia Sportswear during the second quarter worth $222,000. Finally, Eqis Capital Management Inc. raised its stake in Columbia Sportswear by 1.8% in the second quarter. Eqis Capital Management Inc. now owns 4,003 shares of the company’s stock worth $230,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 36.55% of the company’s stock.
Columbia Sportswear Co. (NASDAQ:COLM) traded down 0.04% on Thursday, reaching $56.59. 50,198 shares of the company traded hands. The stock’s 50-day moving average is $56.20 and its 200-day moving average is $57.39. Columbia Sportswear Co. has a 1-year low of $43.56 and a 1-year high of $66.00. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 22.56 and a beta of 0.89.
Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Thursday, July 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business earned $388.70 million during the quarter, compared to analysts’ expectations of $392.02 million. Columbia Sportswear had a net margin of 7.48% and a return on equity of 12.14%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. Equities research analysts expect that Columbia Sportswear Co. will post $2.67 EPS for the current year.
A number of equities research analysts recently weighed in on the stock. B. Riley restated a “neutral” rating and issued a $64.00 target price on shares of Columbia Sportswear in a report on Wednesday, July 27th. Credit Suisse Group AG restated a “hold” rating on shares of Columbia Sportswear in a report on Sunday, August 7th. Zacks Investment Research upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, July 4th. Brean Capital restated a “hold” rating on shares of Columbia Sportswear in a report on Monday, July 18th. Finally, DA Davidson restated a “buy” rating and issued a $72.00 target price on shares of Columbia Sportswear in a report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $62.75.
About Columbia Sportswear
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor and active lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. The Company’s geographic segments are the United States, Latin America and Asia Pacific (LAAP), the Europe, Middle East and Africa (EMEA), and Canada.
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