Franklin Resources Inc. Raises Position in Columbia Sportswear (NASDAQ:COLM)

Franklin Resources Inc. lifted its stake in Columbia Sportswear (NASDAQ:COLM) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 212,061 shares of the textile maker’s stock after purchasing an additional 4,425 shares during the quarter. Franklin Resources Inc. owned about 0.37% of Columbia Sportswear worth $16,950,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Columbia Sportswear by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 604,824 shares of the textile maker’s stock worth $50,328,000 after acquiring an additional 4,727 shares during the last quarter. Petrus Trust Company LTA bought a new stake in Columbia Sportswear in the third quarter worth about $715,000. Holocene Advisors LP boosted its position in shares of Columbia Sportswear by 71.8% during the third quarter. Holocene Advisors LP now owns 57,200 shares of the textile maker’s stock valued at $4,758,000 after buying an additional 23,909 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Columbia Sportswear by 0.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,102 shares of the textile maker’s stock valued at $8,910,000 after buying an additional 794 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in shares of Columbia Sportswear by 3.1% in the third quarter. Bridgewater Associates LP now owns 46,488 shares of the textile maker’s stock worth $3,867,000 after buying an additional 1,410 shares during the period. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on COLM shares. Stifel Nicolaus boosted their price objective on Columbia Sportswear from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen boosted their target price on shares of Columbia Sportswear from $70.00 to $84.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. Finally, StockNews.com raised shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Columbia Sportswear has a consensus rating of “Hold” and an average price target of $80.75.

Columbia Sportswear Stock Up 0.7 %

Shares of NASDAQ COLM opened at $88.31 on Friday. Columbia Sportswear has a twelve month low of $73.04 and a twelve month high of $91.30. The firm has a market cap of $5.05 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 3.74 and a beta of 0.94. The business has a fifty day simple moving average of $84.13 and a two-hundred day simple moving average of $81.86.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $1.70 earnings per share. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. On average, research analysts expect that Columbia Sportswear will post 3.89 earnings per share for the current year.

Columbia Sportswear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were given a $0.30 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.36%. Columbia Sportswear’s payout ratio is presently 33.15%.

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.