Columbia Sportswear Company (NASDAQ:COLM) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 800,715 shares, a decline of 49.7% from the October 13th total of 1,591,509 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average trading volume of 264,322 shares, the short-interest ratio is currently 3.0 days.
A number of brokerages have issued reports on COLM. B. Riley reissued a “buy” rating on shares of Columbia Sportswear in a report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $60.00 target price on shares of Columbia Sportswear in a research note on Wednesday, October 4th. FBR & Co reaffirmed a “buy” rating and set a $68.00 target price on shares of Columbia Sportswear in a research note on Friday, October 27th. Pivotal Research assumed coverage on Columbia Sportswear in a research note on Thursday, October 5th. They issued a “buy” rating and a $72.00 price objective for the company. Finally, Canaccord Genuity set a $60.00 price objective on Columbia Sportswear and gave the company a “hold” rating in a research note on Tuesday, July 25th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Columbia Sportswear currently has a consensus rating of “Buy” and an average target price of $64.92.
In related news, Director Malia H. Wasson sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $61.68, for a total value of $55,512.00. Following the sale, the director now owns 1,089 shares in the company, valued at $67,169.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward S. George sold 6,664 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $56.90, for a total value of $379,181.60. Following the completion of the sale, the director now owns 8,664 shares in the company, valued at approximately $492,981.60. The disclosure for this sale can be found here. 58.86% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Columbia Sportswear by 78,608.2% during the 1st quarter. BlackRock Inc. now owns 1,635,556 shares of the textile maker’s stock worth $96,089,000 after purchasing an additional 1,633,478 shares during the period. Vanguard Group Inc. raised its position in shares of Columbia Sportswear by 31.7% during the 1st quarter. Vanguard Group Inc. now owns 2,774,168 shares of the textile maker’s stock worth $162,982,000 after purchasing an additional 667,856 shares during the period. American Century Companies Inc. raised its position in shares of Columbia Sportswear by 38.4% during the 2nd quarter. American Century Companies Inc. now owns 576,986 shares of the textile maker’s stock worth $33,500,000 after purchasing an additional 160,070 shares during the period. JPMorgan Chase & Co. grew its holdings in Columbia Sportswear by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,789,254 shares of the textile maker’s stock worth $108,662,000 after buying an additional 148,269 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Columbia Sportswear by 14.8% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 39.21% of the company’s stock.
Columbia Sportswear (NASDAQ:COLM) opened at $63.92 on Thursday. The firm has a market capitalization of $4,428.77, a price-to-earnings ratio of 22.72, a PEG ratio of 2.41 and a beta of 0.85. Columbia Sportswear has a 1-year low of $51.56 and a 1-year high of $67.60.
Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings results on Thursday, October 26th. The textile maker reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.10. Columbia Sportswear had a return on equity of 12.30% and a net margin of 8.18%. The firm had revenue of $747.37 million during the quarter, compared to the consensus estimate of $735.67 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. research analysts anticipate that Columbia Sportswear will post 2.71 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be paid a $0.19 dividend. This is a boost from Columbia Sportswear’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.19%. Columbia Sportswear’s payout ratio is 25.81%.
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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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