Columbia Sportswear (NASDAQ:COLM)’s share price hit a new 52-week high on Wednesday . The company traded as high as $93.28 and last traded at $93.10, with a volume of 8669 shares. The stock had previously closed at $93.03.
A number of equities analysts have weighed in on COLM shares. BidaskClub lowered Columbia Sportswear from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 17th. Needham & Company LLC started coverage on Columbia Sportswear in a research note on Monday, April 23rd. They issued a “buy” rating and a $87.00 target price on the stock. DA Davidson upped their target price on Columbia Sportswear from $84.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, April 27th. Stifel Nicolaus upped their target price on Columbia Sportswear from $78.00 to $93.00 and gave the stock a “hold” rating in a research note on Friday, April 27th. Finally, Robert W. Baird upped their target price on Columbia Sportswear from $87.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, April 12th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $83.13.
The firm has a market capitalization of $6.48 billion, a PE ratio of 31.07, a PEG ratio of 2.48 and a beta of 0.89.
Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings data on Thursday, April 26th. The textile maker reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.19. Columbia Sportswear had a return on equity of 13.58% and a net margin of 4.52%. The firm had revenue of $607.31 million during the quarter, compared to analysts’ expectations of $581.16 million. During the same period in the prior year, the business earned $0.51 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. analysts anticipate that Columbia Sportswear will post 3.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Stockholders of record on Thursday, May 17th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Wednesday, May 16th. Columbia Sportswear’s payout ratio is currently 29.53%.
In related news, COO Thomas B. Cusick sold 8,343 shares of the stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $82.50, for a total transaction of $688,297.50. Following the completion of the sale, the chief operating officer now directly owns 52,606 shares in the company, valued at approximately $4,339,995. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Peter J. Bragdon sold 12,005 shares of the stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $89.09, for a total value of $1,069,525.45. Following the sale, the chief accounting officer now owns 31,845 shares of the company’s stock, valued at $2,837,071.05. The disclosure for this sale can be found here. Insiders have sold a total of 40,294 shares of company stock valued at $3,460,214 over the last 90 days. 56.68% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of COLM. Advisory Services Network LLC boosted its holdings in Columbia Sportswear by 1,788.8% during the 4th quarter. Advisory Services Network LLC now owns 2,021 shares of the textile maker’s stock valued at $145,000 after acquiring an additional 1,914 shares during the period. Martingale Asset Management L P purchased a new stake in Columbia Sportswear during the 4th quarter valued at about $202,000. Xact Kapitalforvaltning AB purchased a new stake in Columbia Sportswear during the 4th quarter valued at about $213,000. Commonwealth Equity Services LLC purchased a new stake in Columbia Sportswear in the 1st quarter worth approximately $219,000. Finally, CIBC World Markets Inc. purchased a new stake in Columbia Sportswear in the 1st quarter worth approximately $233,000. Institutional investors own 38.56% of the company’s stock.
About Columbia Sportswear
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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