Columbia Sportswear (NASDAQ:COLM) Shares Down 5.2% After Analyst Downgrade

Columbia Sportswear (NASDAQ:COLM) shares dropped 5.2% on Friday after Barclays lowered their price target on the stock from $64.00 to $62.00. Barclays currently has an equal weight rating on the stock. Columbia Sportswear traded as low as $58.44 and last traded at $59.03. Approximately 182,774 shares changed hands during trading, a decline of 67% from the average daily volume of 553,687 shares. The stock had previously closed at $62.27.

A number of other equities analysts also recently weighed in on COLM. Stifel Nicolaus cut their target price on Columbia Sportswear from $91.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup reissued a “neutral” rating and issued a $68.00 price objective (down previously from $80.00) on shares of Columbia Sportswear in a research report on Monday, April 7th. UBS Group raised their target price on Columbia Sportswear from $42.00 to $51.00 and gave the company a “sell” rating in a research report on Monday, April 14th. Finally, StockNews.com downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.00.

Insider Buying and Selling at Columbia Sportswear

In related news, Director Ronald E. Nelson sold 6,395 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.74, for a total value of $522,727.30. Following the sale, the director now directly owns 17,048 shares in the company, valued at approximately $1,393,503.52. The trade was a 27.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Richelle T. Luther sold 4,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $92.36, for a total transaction of $369,440.00. Following the transaction, the executive vice president now owns 14,283 shares of the company’s stock, valued at $1,319,177.88. This represents a 21.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 44.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Columbia Sportswear in the fourth quarter worth $25,710,000. Arrowstreet Capital Limited Partnership boosted its stake in Columbia Sportswear by 447.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 294,471 shares of the textile maker’s stock worth $24,715,000 after purchasing an additional 240,709 shares during the period. Barclays PLC grew its holdings in Columbia Sportswear by 487.8% during the 4th quarter. Barclays PLC now owns 271,293 shares of the textile maker’s stock valued at $22,770,000 after buying an additional 225,140 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Columbia Sportswear during the 1st quarter valued at about $15,099,000. Finally, American Century Companies Inc. increased its position in shares of Columbia Sportswear by 18.0% during the fourth quarter. American Century Companies Inc. now owns 884,731 shares of the textile maker’s stock valued at $74,255,000 after buying an additional 134,813 shares during the period. 47.76% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Sportswear Price Performance

The business’s fifty day moving average price is $72.89 and its 200-day moving average price is $80.65. The stock has a market capitalization of $3.29 billion, a PE ratio of 15.41, a P/E/G ratio of 2.54 and a beta of 0.91.

Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, May 1st. The textile maker reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. Columbia Sportswear had a net margin of 6.63% and a return on equity of 12.23%. The business had revenue of $778.45 million for the quarter, compared to analyst estimates of $763.50 million. During the same quarter in the prior year, the firm posted $0.71 EPS. Columbia Sportswear’s revenue was up 1.1% on a year-over-year basis. On average, analysts expect that Columbia Sportswear will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a $0.30 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.20 annualized dividend and a dividend yield of 2.01%. Columbia Sportswear’s payout ratio is currently 31.01%.

About Columbia Sportswear

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.