Seven Eight Capital LP Acquires 6,849 Shares of Columbia Sportswear (NASDAQ:COLM)

Seven Eight Capital LP raised its holdings in Columbia Sportswear (NASDAQ:COLM) by 215.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,024 shares of the textile maker’s stock after buying an additional 6,849 shares during the period. Seven Eight Capital LP’s holdings in Columbia Sportswear were worth $793,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Columbia Sportswear by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,170,400 shares of the textile maker’s stock valued at $257,373,000 after acquiring an additional 21,104 shares during the last quarter. Boston Trust Walden Corp grew its stake in Columbia Sportswear by 1.1% in the second quarter. Boston Trust Walden Corp now owns 1,304,761 shares of the textile maker’s stock valued at $103,180,000 after purchasing an additional 13,636 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Columbia Sportswear by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,195,386 shares of the textile maker’s stock worth $94,530,000 after purchasing an additional 56,348 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Columbia Sportswear by 153.3% during the 2nd quarter. American Century Companies Inc. now owns 616,110 shares of the textile maker’s stock worth $48,722,000 after purchasing an additional 372,886 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Columbia Sportswear by 28.3% during the 4th quarter. First Trust Advisors LP now owns 476,608 shares of the textile maker’s stock worth $37,909,000 after purchasing an additional 105,193 shares in the last quarter. 47.76% of the stock is owned by institutional investors.

Columbia Sportswear Price Performance

COLM stock opened at $82.23 on Friday. The company has a fifty day moving average price of $80.58 and a two-hundred day moving average price of $80.37. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 3.00 and a beta of 0.92. Columbia Sportswear has a one year low of $66.01 and a one year high of $87.23.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly 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. Columbia Sportswear had a net margin of 6.72% and a return on equity of 13.01%. The firm had revenue of $570.20 million for the quarter, compared to analysts’ expectations of $569.37 million. During the same period in the prior year, the firm earned $0.14 EPS. The business’s revenue was down 8.2% on a year-over-year basis. Research analysts anticipate that Columbia Sportswear will post 3.85 EPS for the current fiscal year.

Columbia Sportswear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.46%. Columbia Sportswear’s dividend payout ratio (DPR) is presently 29.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on COLM shares. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Columbia Sportswear in a report on Thursday, July 18th. StockNews.com downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus raised shares of Columbia Sportswear from a “hold” rating to a “buy” rating and upped their target price for the company from $84.00 to $92.00 in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.00.

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.