Columbia Sportswear (NASDAQ:COLM – Get a rating) was the target of a significant increase in short interest during the month of August. As of August 15, there was short interest totaling 1,170,000 shares, an increase of 7.3% from the July 31 total of 1,090,000 shares. Currently, 3.6% of the company’s shares are sold short. Based on an average daily trading volume of 372,000 shares, the short interest ratio is currently 3.1 days.
Columbia Sportswear Price Performance
COLM stock traded down $0.05 at midday Wednesday, hitting $71.86. 6,883 shares of the stock trade in hands, compared to its average volume of 298,533. The company has a market cap of $4.52 billion, a P/E ratio of 14.21, a PEG of 1.73 and a beta of 0.89. The stock’s fifty-day simple moving average is $74.41 and its 200-day simple moving average is $81.23. Columbia Sportswear has a 1-year minimum of $68.29 and a 1-year maximum of $107.50.
Columbia Sportswear (NASDAQ:COLM – Get a rating) last announced its results on Wednesday, July 27. The textile maker reported earnings per share (EPS) of $0.11 for the quarter, beating the consensus estimate of $0.04 by $0.07. Columbia Sportswear had a net margin of 10.13% and a return on equity of 17.87%. The company posted revenue of $578.06 million for the quarter, versus analyst estimates of $592.35 million. In the same quarter last year, the company earned earnings per share of $0.61. The company’s revenue for the quarter increased by 2.1% compared to the same quarter last year. On average, research analysts predict that Columbia Sportswear will post earnings per share of 5.18 for the current year.
Columbia Sportswear Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31. Shareholders of record on Wednesday, August 17 will receive a dividend of $0.30. The ex-dividend date is Tuesday, August 16. This represents an annualized dividend of $1.20 and a dividend yield of 1.67%. Columbia Sportswear’s dividend payout ratio (DPR) is 23.76%.
Insiders place their bets
Separately, Chief Financial Officer Jim A. Swanson purchased 500 shares of the company in a transaction on Monday, August 29. The shares were acquired at an average price of $72.99 per share, with a total value of $36,495.00. Following the completion of the acquisition, the CFO now owns 5,197 shares of the company, valued at approximately $379,329.03. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Company insiders own 42.37% of the company’s shares.
Columbia Sportswear Institutional Trade
Institutional investors have recently changed their stock portfolios. Meeder Asset Management Inc. acquired a new stake in shares of Columbia Sportswear in the first quarter worth approximately $27,000. Exchange Traded Concepts LLC bought a new position in shares of Columbia Sportswear in the first quarter for a value of approximately $31,000. Fifth Third Bancorp increased its stake in shares of Columbia Sportswear by 342.4% in the second quarter. Fifth Third Bancorp now owns 438 shares of the textile maker worth $31,000 after buying 339 more shares last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Columbia Sportswear in the fourth quarter for a value of approximately $43,000. Finally, Lazard Asset Management LLC bought a new position in shares of Columbia Sportswear in the first quarter worth about $45,000. Institutional investors and hedge funds hold 48.56% of the company’s shares.
Wall Street analysts predict growth
A number of research companies have weighed in on COLM recently. UBS Group reduced its price target on shares of Columbia Sportswear from $83.00 to $80.00 and set a “neutral” rating on the stock in a Thursday, July 28 research note. StockNews.com downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a Friday, Aug. 5 research note. Cowen cut his price target on shares of Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 research note. Citigroup reduced its price target on shares of Columbia Sportswear from $98.00 to $80.00 in a Thursday, July 28 research note. Finally, Robert W. Baird cut his price target on Columbia Sportswear stock from $85.00 to $82.00 and set a “neutral” rating on the stock in a Thursday, July 28 research note. One financial analyst has assigned the stock a sell rating, five have assigned a hold rating and three have assigned the stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.38.
About Columbia Sportswear
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets and distributes outdoor, active and everyday apparel, footwear, accessories and equipment in the United States, Latin America, Asia- Pacific, Europe, Middle East, Africa and Canada. The company provides clothing, accessories and equipment that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, running , water sports, yoga, golf and adventure travel.
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