Shares of Columbia Sportswear Company (NASDAQ:COLM) reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $64.09 and last traded at $63.99, with a volume of 109,594 shares trading hands. The stock had previously closed at $62.99.
The textile maker reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $747.37 million for the quarter, compared to the consensus estimate of $735.67 million. Columbia Sportswear had a net margin of 8.18% and a return on equity of 12.45%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $1.18 EPS.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a dividend of $0.19 per share. This is an increase from Columbia Sportswear’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.17%. Columbia Sportswear’s dividend payout ratio (DPR) is 25.81%.
COLM has been the topic of a number of recent research reports. Buckingham Research reiterated a “neutral” rating and issued a $58.00 price objective on shares of Columbia Sportswear in a report on Monday, July 17th. Zacks Investment Research upgraded shares of Columbia Sportswear from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Cowen and Company set a $58.00 price objective on shares of Columbia Sportswear and gave the company a “hold” rating in a report on Wednesday, July 19th. Canaccord Genuity reiterated a “neutral” rating on shares of Columbia Sportswear in a report on Wednesday, July 26th. Finally, Stifel Nicolaus set a $60.00 price objective on shares of Columbia Sportswear and gave the company a “hold” rating in a report on Sunday, July 30th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.92.
In related news, Director Edward S. George sold 6,664 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $56.90, for a total transaction of $379,181.60. Following the transaction, the director now directly owns 8,664 shares in the company, valued at $492,981.60. The sale was disclosed in a filing with the SEC, which is available through this link. 58.86% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of COLM. BlackRock Inc. increased its holdings in Columbia Sportswear by 78,608.2% during the first quarter. BlackRock Inc. now owns 1,635,556 shares of the textile maker’s stock worth $96,089,000 after buying an additional 1,633,478 shares during the last quarter. Vanguard Group Inc. increased its holdings in Columbia Sportswear by 31.7% during the first quarter. Vanguard Group Inc. now owns 2,774,168 shares of the textile maker’s stock worth $162,982,000 after buying an additional 667,856 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Columbia Sportswear during the first quarter worth $16,239,000. American Century Companies Inc. increased its holdings in Columbia Sportswear by 38.4% during the second quarter. American Century Companies Inc. now owns 576,986 shares of the textile maker’s stock worth $33,500,000 after buying an additional 160,070 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Columbia Sportswear by 14.8% during the third quarter. Victory Capital Management Inc. now owns 1,072,520 shares of the textile maker’s stock worth $66,046,000 after buying an additional 137,900 shares during the last quarter. Institutional investors and hedge funds own 38.65% of the company’s stock.
The firm has a 50-day moving average price of $60.21 and a 200 day moving average price of $57.79. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 23.75 and a beta of 0.82.
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About Columbia Sportswear
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada.
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