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

Columbia Sportswear (NASDAQ:COLM)’s stock price fell 5.2% during mid-day trading 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. 182,774 shares changed hands during trading, a decline of 67% from the average session volume of 553,687 shares. The stock had previously closed at $62.27.

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

Insider Activity at Columbia Sportswear

In other Columbia Sportswear news, EVP Richelle T. Luther sold 4,000 shares of Columbia Sportswear stock in a transaction that occurred on Wednesday, February 26th. The shares were 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. The trade was a 21.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald E. Nelson sold 6,395 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.74, for a total transaction of $522,727.30. Following the sale, the director now owns 17,048 shares in the company, valued at $1,393,503.52. The trade was a 27.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 44.70% of the stock is owned by company insiders.

Institutional Trading of Columbia Sportswear

Several institutional investors have recently made changes to their positions in COLM. Smartleaf Asset Management LLC grew its holdings in shares of Columbia Sportswear by 184.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 194 shares in the last quarter. Whipplewood Advisors LLC increased its stake in Columbia Sportswear by 12,400.0% during the first quarter. Whipplewood Advisors LLC now owns 625 shares of the textile maker’s stock worth $47,000 after acquiring an additional 620 shares during the last quarter. GAMMA Investing LLC raised its position in Columbia Sportswear by 43.2% during the fourth quarter. GAMMA Investing LLC now owns 600 shares of the textile maker’s stock valued at $50,000 after purchasing an additional 181 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Columbia Sportswear in the 4th quarter valued at approximately $76,000. Finally, Signaturefd LLC boosted its holdings in shares of Columbia Sportswear by 18.4% in the 4th quarter. Signaturefd LLC now owns 915 shares of the textile maker’s stock worth $77,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Columbia Sportswear Trading Down 4.2 %

The company has a 50-day moving average price of $72.89 and a two-hundred day moving average price of $80.66. The stock has a market cap of $3.29 billion, a P/E 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 quarterly earnings data on Thursday, May 1st. The textile maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The business had revenue of $778.45 million for the quarter, compared to analysts’ expectations of $763.50 million. Columbia Sportswear had a net margin of 6.63% and a return on equity of 12.23%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. As a group, equities analysts forecast that Columbia Sportswear will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

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

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.