Bank of Nova Scotia Sells 455 Shares of Columbia Sportswear (NASDAQ:COLM)

Bank of Nova Scotia cut its stake in shares of Columbia Sportswear (NASDAQ:COLM) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,174 shares of the textile maker’s stock after selling 455 shares during the quarter. 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 and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Columbia Sportswear during the fourth quarter valued at approximately $25,710,000. Arrowstreet Capital Limited Partnership raised its position in shares of Columbia Sportswear by 447.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 294,471 shares of the textile maker’s stock valued at $24,715,000 after purchasing an additional 240,709 shares during the period. American Century Companies Inc. lifted its stake in shares of Columbia Sportswear by 18.0% during the 4th quarter. American Century Companies Inc. now owns 884,731 shares of the textile maker’s stock valued at $74,255,000 after buying an additional 134,813 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Columbia Sportswear by 10.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,207,605 shares of the textile maker’s stock worth $101,355,000 after buying an additional 109,488 shares during the period. Finally, Invesco Ltd. increased its stake in Columbia Sportswear by 25.3% in the 4th quarter. Invesco Ltd. now owns 530,600 shares of the textile maker’s stock worth $44,533,000 after buying an additional 107,157 shares in the last quarter. 47.76% of the stock is owned by hedge funds and other institutional investors.

Columbia Sportswear Trading Up 2.9 %

NASDAQ:COLM opened at $67.55 on Tuesday. The business’s 50-day moving average is $78.78 and its 200 day moving average is $82.35. Columbia Sportswear has a 12 month low of $59.07 and a 12 month high of $92.88. The company has a market capitalization of $3.74 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.54 and a beta of 0.91.

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

Columbia Sportswear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.20 annualized dividend and a yield of 1.78%. Columbia Sportswear’s dividend payout ratio (DPR) is currently 31.01%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

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.