Columbia Sportswear Company (NASDAQ:COLM – Get Free Report) President Peter Bragdon sold 375 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $70.81, for a total transaction of $26,553.75. Following the completion of the sale, the president owned 28,950 shares in the company, valued at approximately $2,049,949.50. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Columbia Sportswear Trading Up 1.9%
Shares of Columbia Sportswear stock opened at $70.43 on Friday. The company has a fifty day simple moving average of $59.59 and a 200-day simple moving average of $60.15. Columbia Sportswear Company has a 12-month low of $49.56 and a 12-month high of $72.63. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 15.45 and a beta of 0.88.
Columbia Sportswear (NASDAQ:COLM – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The textile maker reported $1.66 EPS for the quarter, beating the consensus estimate of $1.28 by $0.38. The business had revenue of $962.58 million during the quarter, compared to analysts’ expectations of $944.91 million. Columbia Sportswear had a return on equity of 11.71% and a net margin of 6.97%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. On average, analysts forecast that Columbia Sportswear Company will post 3.91 earnings per share for the current fiscal year.
Columbia Sportswear Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, November 19th. Columbia Sportswear’s payout ratio is currently 26.32%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COLM. BlackRock Inc. acquired a new position in shares of Columbia Sportswear during the 2nd quarter worth about $152,164,000. Dimensional Fund Advisors LP raised its holdings in shares of Columbia Sportswear by 15.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,222,770 shares of the textile maker’s stock worth $121,824,000 after buying an additional 301,277 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Columbia Sportswear in the 2nd quarter valued at approximately $16,691,000. Quantinno Capital Management LP grew its holdings in Columbia Sportswear by 7.6% during the 1st quarter. Quantinno Capital Management LP now owns 292,953 shares of the textile maker’s stock worth $16,057,000 after acquiring an additional 20,797 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Columbia Sportswear in the second quarter worth about $15,746,000. 47.76% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
COLM has been the subject of several research reports. Citigroup reaffirmed a “neutral” rating and issued a $68.00 target price (up from $67.00) on shares of Columbia Sportswear in a research note on Wednesday, July 22nd. Wall Street Zen upgraded Columbia Sportswear from a “buy” rating to a “strong-buy” rating in a report on Saturday. Robert W. Baird set a $65.00 price target on Columbia Sportswear in a research note on Friday, July 31st. UBS Group reissued a “sell” rating and set a $49.00 price objective (up from $47.00) on shares of Columbia Sportswear in a research report on Friday, October 30th. Finally, Zacks Research lowered Columbia Sportswear from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Columbia Sportswear currently has a consensus rating of “Hold” and an average price target of $66.40.
Columbia Sportswear Company Profile
Columbia Sportswear Company is an outdoor and active lifestyle apparel, footwear, accessories and equipment company headquartered in Portland, Oregon. Founded in 1938 as the Columbia Hat Company, the business has grown into a global outdoor brand focused on products designed for activities such as hiking, skiing, fishing, camping and everyday outdoor use.
The company markets products under the Columbia, Sorel, Mountain Hardwear and prAna brands. Its offerings include jackets, shirts, pants, base layers, footwear, hats, gloves, backpacks and other outdoor accessories.
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