Columbia Sportswear (NASDAQ:COLM) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 712,538 shares, a decline of 33.2% from the February 15th total of 1,066,373 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average trading volume of 327,059 shares, the days-to-cover ratio is presently 2.2 days.
A number of analysts have issued reports on COLM shares. DA Davidson raised Columbia Sportswear from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Thursday, November 29th. Citigroup boosted their target price on Columbia Sportswear from $106.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, December 3rd. Pivotal Research raised Columbia Sportswear from a “hold” rating to a “buy” rating and boosted their target price for the company from $97.00 to $107.00 in a research report on Thursday, December 6th. Needham & Company LLC downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. They noted that the move was a valuation call. Finally, BidaskClub downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Friday, January 11th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $106.53.
NASDAQ COLM opened at $103.73 on Friday. The company has a market cap of $7.06 billion, a PE ratio of 25.87, a P/E/G ratio of 2.13 and a beta of 0.68. Columbia Sportswear has a fifty-two week low of $74.28 and a fifty-two week high of $109.74.
Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Thursday, February 7th. The textile maker reported $1.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.41. The firm had revenue of $917.60 million for the quarter, compared to the consensus estimate of $859.06 million. Columbia Sportswear had a return on equity of 16.79% and a net margin of 9.57%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. On average, analysts forecast that Columbia Sportswear will post 4.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Thursday, March 7th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, March 6th. Columbia Sportswear’s payout ratio is currently 23.94%.
In other Columbia Sportswear news, COO Thomas B. Cusick sold 22,115 shares of Columbia Sportswear stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $107.04, for a total value of $2,367,189.60. Following the sale, the chief operating officer now owns 38,598 shares of the company’s stock, valued at approximately $4,131,529.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward S. George sold 5,630 shares of Columbia Sportswear stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $105.19, for a total value of $592,219.70. Following the completion of the sale, the director now directly owns 7,630 shares in the company, valued at approximately $802,599.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,919 shares of company stock worth $8,651,940. Corporate insiders own 56.68% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of COLM. Murphy Pohlad Asset Management LLC purchased a new position in Columbia Sportswear during the 4th quarter valued at $42,000. Commonwealth Bank of Australia purchased a new position in Columbia Sportswear during the 3rd quarter valued at $111,000. Tower Research Capital LLC TRC boosted its holdings in Columbia Sportswear by 268.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,536 shares of the textile maker’s stock valued at $143,000 after acquiring an additional 1,119 shares during the period. CENTRAL TRUST Co purchased a new position in Columbia Sportswear during the 4th quarter valued at $145,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Columbia Sportswear during the 4th quarter valued at $176,000. Institutional investors own 36.99% of the company’s stock.
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Columbia Sportswear Company Profile
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 and 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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