B. Riley Wealth Advisors Inc. Sells 336 Shares of Columbia Sportswear (NASDAQ:COLM)

B. Riley Wealth Advisors Inc. cut its holdings in Columbia Sportswear (NASDAQ:COLM) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,362 shares of the textile maker’s stock after selling 336 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Columbia Sportswear were worth $345,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Columbia Sportswear by 116.6% during the 2nd quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock worth $34,000 after acquiring an additional 225 shares in the last quarter. Headlands Technologies LLC boosted its position in Columbia Sportswear by 174.8% during the first quarter. Headlands Technologies LLC now owns 599 shares of the textile maker’s stock worth $49,000 after purchasing an additional 381 shares during the period. Northwest Investment Counselors LLC acquired a new position in Columbia Sportswear during the first quarter valued at approximately $64,000. Dnca Finance bought a new position in shares of Columbia Sportswear in the second quarter valued at approximately $68,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Columbia Sportswear in the first quarter worth $258,000. 47.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Columbia Sportswear Price Performance

Shares of Columbia Sportswear stock opened at $80.06 on Tuesday. The firm has a market capitalization of $4.73 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 3.01 and a beta of 0.92. Columbia Sportswear has a 52-week low of $66.01 and a 52-week high of $87.23. The company’s fifty day moving average price is $81.31 and its two-hundred day moving average price is $80.56.

Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, July 25th. The textile maker reported ($0.20) earnings per share for the quarter, topping 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 business had revenue of $570.20 million for the quarter, compared to analyst estimates of $569.37 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. Analysts predict that Columbia Sportswear will post 3.85 earnings per share for the current fiscal year.

Columbia Sportswear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, August 15th. Columbia Sportswear’s payout ratio is currently 29.27%.

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.