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Synovus Financial Corp, a financial services company, has reduced its stake in Columbia Sportswear by 22.4% during the first quarter of this year. The information was revealed in their most recent 13F filing with the Securities and Exchange Commission (SEC). Synovus Financial Corp owned 5,130 shares of the textile maker’s stock after selling 1,484 shares in the quarter. As of their most recent filing with the SEC, these shares were valued at $463,000.
Columbia Sportswear recently announced a quarterly dividend payment, scheduled for Tuesday, September 5th. Stockholders who are recorded as of Tuesday, August 22nd will receive a dividend of $0.30 per share. However, to be eligible for this dividend payment, investors must have acquired their shares before Monday, August 21st – which is the ex-dividend date.
At an annualized rate of $1.20 per share, Columbia Sportswear’s dividend represents a yield of 1.64%. Additionally, the company’s payout ratio stands at 25.53%. This figure indicates the percentage of earnings that Columbia Sportswear pays out to its shareholders as dividends.
It is essential for investors to monitor changes in shareholdings and dividend announcements as they can provide insights into a company’s financial health and outlook.
Columbia Sportswear Company
Updated on: 02/09/2023
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Institutional Investors Increase Holdings in Columbia Sportswear, Indicating Confidence in Performance and Growth
Columbia Sportswear, a leading textile maker in the market, has recently seen a number of hedge funds and institutional investors modifying their holdings of COLM stock. Raymond James & Associates, for instance, has increased its holdings by 23.4% during the first quarter, acquiring an additional 3,588 shares. This brings their total ownership to 18,898 shares valued at $1,711,000. Similarly, US Bancorp DE has also raised its stake in Columbia Sportswear by 19.8%, purchasing an extra 136 shares and bringing their total to 823 shares valued at $75,000.
PNC Financial Services Group Inc., on the other hand, now owns 2,112 shares of the textile maker’s stock after raising their holdings by 14.3%. Their stake in Columbia Sportswear is currently valued at $192,000. MetLife Investment Management LLC has also increased its ownership by 34.6%, purchasing an additional 5,803 shares and bringing their total to 22,554 shares worth $2,042,000.
The Commonwealth of Pennsylvania Public School Empls Retrmt SYS has shown a 10.5% increase in their holdings during the first quarter as well. They have acquired an extra 1,208 shares of Columbia Sportswear stock and now own a total of 12,668 shares with a value of $1,147,000.
It is important to note that institutional investors currently own around 47.76% of Columbia Sportswear’s stock.
These moves made by hedge funds and institutional investors indicate confidence in the company’s performance and growth prospects. However, it’s crucial to consider various factors when analyzing investment decisions.
Several equities analysts have recently commented on Columbia Sportswear as well. StockNews.com issued a “hold” rating on the stock on August 17th. TheStreet downgraded it from a “b-” to a “c+” rating on June 1st. UBS Group decreased their target price from $92.00 to $91.00 and assigned a “neutral” rating on the stock on July 19th.
TD Cowen also downgraded Columbia Sportswear from an “outperform” rating to a “market perform” rating, with a decrease in their target price from $94.00 to $83.00 on August 3rd. Stifel Nicolaus adjusted their target price from $93.00 to $81.00, reiterating their “hold” rating on the stock on August 2nd.
Out of the analysts who have rated the stock, six have given it a hold rating, while two have assigned a buy rating to it. Based on data from Bloomberg.com, the stock currently has a consensus rating of “Hold,” with an average target price of $87.44.
As of September 2, 2023, shares of COLM stock opened at $73.34. Over the past year, the stock has fluctuated between a low of $65.02 and high of $98.32.
With a market capitalization of $4.50 billion and a PE ratio of 15.60, Columbia Sportswear is an important player in the textile industry.
The company’s latest quarterly earnings report for August 1st shows promising results. Columbia Sportswear reported earnings per share of $0.14, surpassing analysts’ expectations by $0.12 per share.
In terms of revenue, the firm generated $620.90 million during the quarter compared to estimates of $586.45 million by analysts.
Columbia Sportswear has showcased consistent growth as its quarterly revenue increased by 7.4% compared to the same period last year.
Looking ahead, sell-side analysts predict that Columbia Sportswear will post 4.6 EPS for the current fiscal year.
As investors continue to monitor the performance of Columbia Sportswear, it remains to be seen how this influential textile maker will navigate the challenges and opportunities in the market.