Columbia Sportswear (NASDAQ:COLM) Shares Up 5.6% – Here’s What Happened

Shares of Columbia Sportswear (NASDAQ:COLM) shot up 5.6% during mid-day trading on Monday . The company traded as high as $88.69 and last traded at $88.67. 114,917 shares changed hands during trading, a decline of 83% from the average session volume of 689,306 shares. The stock had previously closed at $83.96.

Analysts Set New Price Targets

COLM has been the topic of several recent analyst reports. StockNews.com lowered Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Stifel Nicolaus boosted their target price on shares of Columbia Sportswear from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, TD Cowen increased their price target on shares of Columbia Sportswear from $70.00 to $84.00 and gave the company a “hold” rating in a report on Tuesday, November 26th.

Columbia Sportswear Price Performance

The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 2.54 and a beta of 0.90. The stock has a 50-day moving average of $85.19 and a 200 day moving average of $83.94.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Tuesday, February 4th. The textile maker reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.06). Columbia Sportswear had a net margin of 6.63% and a return on equity of 12.23%. Sell-side analysts anticipate that Columbia Sportswear will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $0.30 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a yield of 1.39%. Columbia Sportswear’s dividend payout ratio is presently 31.01%.

Insiders Place Their Bets

In related news, Director Ronald E. Nelson sold 6,395 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was 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 approximately $1,393,503.52. This represents a 27.28 % decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $92.36, for a total value of $369,440.00. Following the completion of the transaction, the executive vice president now owns 14,283 shares of the company’s stock, valued at approximately $1,319,177.88. This represents a 21.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 44.70% of the company’s stock.

Institutional Investors Weigh In On Columbia Sportswear

Several hedge funds have recently added to or reduced their stakes in COLM. Pacer Advisors Inc. grew its position in shares of Columbia Sportswear by 19.8% during the 3rd quarter. Pacer Advisors Inc. now owns 1,773,584 shares of the textile maker’s stock worth $147,544,000 after purchasing an additional 292,716 shares in the last quarter. Boston Trust Walden Corp increased its holdings in shares of Columbia Sportswear by 0.3% during the fourth quarter. Boston Trust Walden Corp now owns 1,284,140 shares of the textile maker’s stock worth $107,778,000 after buying an additional 3,214 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Columbia Sportswear by 10.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,207,605 shares of the textile maker’s stock valued at $101,355,000 after acquiring an additional 109,488 shares in the last quarter. American Century Companies Inc. grew its position in Columbia Sportswear by 18.0% during the 4th quarter. American Century Companies Inc. now owns 884,731 shares of the textile maker’s stock worth $74,255,000 after acquiring an additional 134,813 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Columbia Sportswear by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 604,824 shares of the textile maker’s stock worth $50,328,000 after purchasing an additional 4,727 shares in the last quarter. Institutional investors and hedge funds own 47.76% of the company’s stock.

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.