Franklin Resources Inc. Has $26.22 Million Stake in Columbia Sportswear Company (COLM)
Franklin Resources Inc. increased its stake in shares of Columbia Sportswear Company (NASDAQ:COLM) by 3.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 451,612 shares of the textile maker’s stock after acquiring an additional 15,183 shares during the period. Franklin Resources Inc. owned 0.65% of Columbia Sportswear worth $26,221,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. grew its holdings in Columbia Sportswear by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 8,532 shares of the textile maker’s stock valued at $495,000 after buying an additional 22 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Columbia Sportswear by 0.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,093 shares of the textile maker’s stock valued at $476,000 after buying an additional 66 shares during the last quarter. Creative Planning grew its holdings in Columbia Sportswear by 2.6% in the 2nd quarter. Creative Planning now owns 2,826 shares of the textile maker’s stock valued at $164,000 after buying an additional 72 shares during the last quarter. Stifel Financial Corp grew its holdings in Columbia Sportswear by 4.7% in the 1st quarter. Stifel Financial Corp now owns 3,960 shares of the textile maker’s stock valued at $233,000 after buying an additional 176 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in Columbia Sportswear by 5.6% in the 2nd quarter. Prudential Financial Inc. now owns 5,143 shares of the textile maker’s stock valued at $299,000 after buying an additional 275 shares during the last quarter. 38.92% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on COLM. Stifel Nicolaus set a $60.00 target price on Columbia Sportswear and gave the company a “hold” rating in a report on Sunday, July 30th. Robert W. Baird reaffirmed a “buy” rating and issued a $68.00 target price on shares of Columbia Sportswear in a report on Sunday. Canaccord Genuity set a $60.00 target price on Columbia Sportswear and gave the company a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research lowered Columbia Sportswear from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, Cowen and Company set a $58.00 target price on Columbia Sportswear and gave the company a “hold” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Columbia Sportswear currently has a consensus rating of “Hold” and an average target price of $63.83.
Shares of Columbia Sportswear Company (COLM) opened at 58.41 on Wednesday. Columbia Sportswear Company has a 12 month low of $51.56 and a 12 month high of $63.55. The company has a market cap of $4.07 billion, a P/E ratio of 21.29 and a beta of 0.81. The firm has a 50 day moving average price of $58.04 and a 200-day moving average price of $57.11.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, July 27th. The textile maker reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. Columbia Sportswear had a return on equity of 12.31% and a net margin of 8.01%. The firm had revenue of $398.90 million for the quarter, compared to the consensus estimate of $394.53 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Columbia Sportswear Company will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Tuesday, August 15th. Columbia Sportswear’s payout ratio is 26.47%.
In other news, Director Edward S. George sold 6,664 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $56.90, for a total value of $379,181.60. Following the transaction, the director now owns 8,664 shares of the company’s stock, valued at $492,981.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 58.86% of the stock is currently owned by corporate insiders.
Columbia Sportswear Company Profile
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada.
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