Millennium Management LLC Takes $3.56 Million Position in Columbia Sportswear (COLM)

Millennium Management LLC purchased a new stake in shares of Columbia Sportswear (NASDAQ:COLM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 49,520 shares of the textile maker’s stock, valued at approximately $3,559,000. Millennium Management LLC owned approximately 0.07% of Columbia Sportswear at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Columbia Sportswear by 43.8% in the third quarter. Legal & General Group Plc now owns 14,887 shares of the textile maker’s stock worth $916,000 after acquiring an additional 4,535 shares during the period. Wells Fargo & Company MN raised its position in Columbia Sportswear by 15.7% in the third quarter. Wells Fargo & Company MN now owns 151,239 shares of the textile maker’s stock worth $9,314,000 after acquiring an additional 20,560 shares during the period. Schwab Charles Investment Management Inc. raised its position in Columbia Sportswear by 21.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 247,843 shares of the textile maker’s stock worth $15,263,000 after acquiring an additional 43,329 shares during the period. OxFORD Asset Management LLP raised its position in Columbia Sportswear by 38.3% in the third quarter. OxFORD Asset Management LLP now owns 9,462 shares of the textile maker’s stock worth $575,000 after acquiring an additional 2,621 shares during the period. Finally, California Public Employees Retirement System raised its position in Columbia Sportswear by 1.3% in the third quarter. California Public Employees Retirement System now owns 71,700 shares of the textile maker’s stock worth $4,415,000 after acquiring an additional 900 shares during the period. 38.94% of the stock is currently owned by institutional investors.

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Shares of NASDAQ:COLM opened at $78.97 on Friday. Columbia Sportswear has a twelve month low of $51.56 and a twelve month high of $83.13. The company has a market capitalization of $5,596.45, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.42 and a beta of 0.89.

Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Thursday, February 8th. The textile maker reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.16. Columbia Sportswear had a net margin of 4.26% and a return on equity of 12.65%. The company had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $762.18 million. During the same quarter last year, the business earned $1.20 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. research analysts expect that Columbia Sportswear will post 3.25 earnings per share for the current fiscal year.

In other Columbia Sportswear news, COO Thomas B. Cusick sold 16,006 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $78.75, for a total transaction of $1,260,472.50. Following the sale, the chief operating officer now owns 47,355 shares in the company, valued at approximately $3,729,206.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Thomas B. Cusick sold 8,343 shares of the firm’s stock in a transaction that occurred on Wednesday, April 11th. The stock was sold at an average price of $82.50, for a total transaction of $688,297.50. Following the sale, the chief operating officer now owns 52,606 shares in the company, valued at approximately $4,339,995. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,838 shares of company stock worth $7,405,059. 58.86% of the stock is owned by company insiders.

Several brokerages have commented on COLM. Zacks Investment Research lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. BidaskClub lowered shares of Columbia Sportswear from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 17th. B. Riley lifted their price objective on shares of Columbia Sportswear from $76.00 to $79.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Canaccord Genuity set a $70.00 price objective on shares of Columbia Sportswear and gave the stock a “hold” rating in a research report on Thursday, February 8th. Finally, Pivotal Research reiterated a “buy” rating and issued a $85.00 target price (up previously from $74.00) on shares of Columbia Sportswear in a research note on Wednesday, February 7th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $77.57.

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Columbia Sportswear Profile

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active 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 that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.

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Institutional Ownership by Quarter for Columbia Sportswear (NASDAQ:COLM)

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