Columbia Sportswear (NASDAQ:COLM) Reaches New 1-Year High – What’s Next?

Shares of Columbia Sportswear Company (NASDAQ:COLM) hit a new 52-week high during trading on Monday. The stock traded as high as $72.92 and last traded at $72.8150, with a volume of 350,360 shares traded. The stock had previously closed at $70.43.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird set a $65.00 price objective on shares of Columbia Sportswear in a research note on Friday, July 31st. Zacks Research lowered shares of Columbia Sportswear from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. BTIG Research raised their price target on shares of Columbia Sportswear from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Citigroup reaffirmed a “neutral” rating and issued a $68.00 price target (up from $67.00) on shares of Columbia Sportswear in a research note on Wednesday, July 22nd. Finally, Stifel Nicolaus set a $67.00 price target on shares of Columbia Sportswear and gave the company a “buy” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Columbia Sportswear presently has a consensus rating of “Hold” and a consensus price target of $66.40.

Columbia Sportswear Stock Performance

The business has a 50 day simple moving average of $60.17 and a 200-day simple moving average of $60.34. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 15.84 and a beta of 0.88.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Thursday, October 29th. The textile maker reported $1.66 EPS for the quarter, topping the consensus estimate of $1.28 by $0.38. The firm had revenue of $962.58 million during the quarter, compared to the consensus estimate of $944.91 million. Columbia Sportswear had a return on equity of 11.71% and a net margin of 6.97%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, research analysts anticipate that Columbia Sportswear Company will post 4.89 earnings per share for the current year.

Columbia Sportswear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be paid a $0.30 dividend. The ex-dividend date is Thursday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Columbia Sportswear’s dividend payout ratio is presently 26.32%.

Insider Activity

In other Columbia Sportswear news, EVP Lisa Kulok sold 6,857 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $68.47, for a total value of $469,498.79. Following the completion of the sale, the executive vice president directly owned 8,180 shares of the company’s stock, valued at approximately $560,084.60. This represents a 45.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph P. Boyle sold 19,129 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $70.47, for a total transaction of $1,348,020.63. Following the completion of the sale, the insider owned 2,776,714 shares of the company’s stock, valued at approximately $195,675,035.58. This trade represents a 0.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,361 shares of company stock worth $1,844,073 over the last quarter. Insiders own 51.90% of the company’s stock.

Institutional Trading of Columbia Sportswear

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Columbia Sportswear in the 2nd quarter worth about $152,164,000. Tassel Capital Management Inc. bought a new stake in Columbia Sportswear in the second quarter worth about $10,085,000. Dimensional Fund Advisors LP boosted its stake in Columbia Sportswear by 15.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,222,770 shares of the textile maker’s stock valued at $121,824,000 after acquiring an additional 301,277 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Columbia Sportswear in the second quarter valued at about $16,691,000. Finally, Bank of America Corp DE bought a new position in shares of Columbia Sportswear during the 2nd quarter valued at approximately $15,746,000. 47.76% of the stock is owned by hedge funds and other institutional investors.

Columbia Sportswear Company Profile

Columbia Sportswear Company designs, sources, markets and distributes outdoor and active-lifestyle apparel, footwear, accessories and equipment. Its products serve activities such as hiking, skiing, fishing and other outdoor pursuits, as well as everyday wear. The company’s portfolio includes the Columbia, SOREL, Mountain Hardwear and prAna brands. Its offerings range from jackets, shirts and pants to boots, shoes, backpacks and other outdoor accessories. Founded in 1938 as a hat distributor in Portland, Oregon, Columbia Sportswear has grown into a global business.