Columbia Sportswear (NASDAQ:COLM) Shares Gap Up Following Strong Earnings

Columbia Sportswear (NASDAQ:COLM) gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $79.01, but opened at $86.00. Columbia Sportswear shares last traded at $82.38, with a volume of 269,250 shares trading hands.

The textile maker reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.36. The business had revenue of $769.98 million during the quarter, compared to the consensus estimate of $740.62 million. Columbia Sportswear had a return on equity of 14.11% and a net margin of 7.21%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS.

Columbia Sportswear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.50%. Columbia Sportswear’s dividend payout ratio (DPR) is presently 29.06%.

Analyst Ratings Changes

A number of equities analysts have commented on COLM shares. Stifel Nicolaus upped their price objective on shares of Columbia Sportswear from $75.00 to $84.00 and gave the stock a “hold” rating in a research report on Friday. UBS Group reduced their price target on shares of Columbia Sportswear from $62.00 to $59.00 and set a “sell” rating on the stock in a report on Friday, February 2nd. Finally, StockNews.com cut shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $78.60.

Insider Buying and Selling at Columbia Sportswear

In related news, Director Ronald E. Nelson sold 5,768 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $82.05, for a total value of $473,264.40. Following the sale, the director now directly owns 16,857 shares of the company’s stock, valued at $1,383,116.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ronald E. Nelson sold 5,768 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $82.05, for a total transaction of $473,264.40. Following the sale, the director now directly owns 16,857 shares in the company, valued at approximately $1,383,116.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen E. Babson sold 2,411 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $80.98, for a total value of $195,242.78. Following the completion of the sale, the director now directly owns 122,879 shares in the company, valued at $9,950,741.42. The disclosure for this sale can be found here. 43.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Columbia Sportswear

Several institutional investors have recently bought and sold shares of COLM. Venturi Wealth Management LLC lifted its holdings in Columbia Sportswear by 76.2% in the 4th quarter. Venturi Wealth Management LLC now owns 451 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 195 shares during the last quarter. TFO Wealth Partners LLC raised its position in Columbia Sportswear by 11,725.0% during the fourth quarter. TFO Wealth Partners LLC now owns 473 shares of the textile maker’s stock valued at $38,000 after acquiring an additional 469 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Columbia Sportswear by 44.3% in the 3rd quarter. Fifth Third Bancorp now owns 502 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 154 shares during the last quarter. Signaturefd LLC lifted its position in shares of Columbia Sportswear by 125.7% in the third quarter. Signaturefd LLC now owns 607 shares of the textile maker’s stock worth $45,000 after buying an additional 338 shares during the last quarter. Finally, Quent Capital LLC boosted its position in Columbia Sportswear by 79.6% during the fourth quarter. Quent Capital LLC now owns 616 shares of the textile maker’s stock worth $49,000 after purchasing an additional 273 shares during the period. Institutional investors and hedge funds own 47.76% of the company’s stock.

Columbia Sportswear Stock Performance

The business’s 50 day moving average is $78.82 and its 200-day moving average is $77.92. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 3.27 and a beta of 0.94.

Columbia Sportswear Company Profile

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.