Bank of Nova Scotia Trims Holdings in Columbia Sportswear (NASDAQ:COLM)

Bank of Nova Scotia reduced its holdings in shares of Columbia Sportswear (NASDAQ:COLM) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,174 shares of the textile maker’s stock after selling 455 shares during the period. Bank of Nova Scotia’s holdings in Columbia Sportswear were worth $350,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of COLM. Geode Capital Management LLC lifted its holdings in shares of Columbia Sportswear by 0.8% during the third quarter. Geode Capital Management LLC now owns 604,824 shares of the textile maker’s stock valued at $50,328,000 after purchasing an additional 4,727 shares during the last quarter. Franklin Resources Inc. increased its position in Columbia Sportswear by 2.1% during the 3rd quarter. Franklin Resources Inc. now owns 212,061 shares of the textile maker’s stock valued at $16,950,000 after buying an additional 4,425 shares in the last quarter. GAMMA Investing LLC raised its stake in Columbia Sportswear by 43.2% during the fourth quarter. GAMMA Investing LLC now owns 600 shares of the textile maker’s stock valued at $50,000 after buying an additional 181 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Columbia Sportswear in the fourth quarter worth $6,356,000. Finally, Impact Partnership Wealth LLC bought a new stake in Columbia Sportswear in the fourth quarter worth $240,000. Institutional investors own 47.76% of the company’s stock.

Columbia Sportswear Stock Performance

Shares of NASDAQ:COLM opened at $67.55 on Tuesday. The business has a 50-day simple moving average of $78.78 and a two-hundred day simple moving average of $82.35. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.54 and a beta of 0.91. Columbia Sportswear has a fifty-two week low of $59.07 and a fifty-two week high of $92.88.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Tuesday, February 4th. The textile maker reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.06). Columbia Sportswear had a net margin of 6.63% and a return on equity of 12.23%. As a group, research analysts predict that Columbia Sportswear will post 4.1 earnings per share for the current year.

Columbia Sportswear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Monday, March 10th. Columbia Sportswear’s payout ratio is currently 31.01%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup reaffirmed a “neutral” rating and issued a $68.00 price target (down previously from $80.00) on shares of Columbia Sportswear in a research report on Monday, April 7th. UBS Group lifted their target price on shares of Columbia Sportswear from $42.00 to $51.00 and gave the stock a “sell” rating in a report on Monday. StockNews.com downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus reduced their price target on shares of Columbia Sportswear from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.80.

Insider Activity at Columbia Sportswear

In other Columbia Sportswear news, Director Ronald E. Nelson sold 6,395 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.74, for a total transaction of $522,727.30. Following the completion of the sale, the director now directly owns 17,048 shares in the company, valued at $1,393,503.52. The trade was a 27.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richelle T. Luther sold 4,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $92.36, for a total transaction of $369,440.00. Following the completion of the transaction, the executive vice president now owns 14,283 shares in the company, valued at $1,319,177.88. This trade represents a 21.88 % decrease in their position. The disclosure for this sale can be found here. 44.70% of the stock is owned by company insiders.

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.