Columbia Sportswear (NASDAQ:COLM – Get a rating) was the target of strong short-term interest growth in August. As of August 31, there was short interest totaling 1,310,000 shares, a growth of 12.0% from the total of 1,170,000 shares as of August 15. Based on an average daily trading volume of 361,600 shares, the day-to-cover ratio is currently 3.6 days. Approximately 4.0% of the company’s shares are sold short.
Columbia sportswear stock up 2.3%
Shares of COLM traded at $1.60 midday on Monday, hitting $72.60. The company’s stock had a trading volume of 11,317 shares, compared to an average volume of 411,214. The company has a fifty-day moving average of $74.06 and a 200-day moving average of $79.09 . The company has a market cap of $4.56 billion, a price-to-earnings ratio of 14.06, a growth price-to-earnings ratio of 1.69, and a beta of 0.88. 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 reported results on Wednesday, July 27. The textile maker reported earnings per share (EPS) of $0.11 for the quarter, beating analysts’ consensus estimate of $0.04 by $0.07. The company posted revenue of $578.06 million in the quarter, versus analyst estimates of $592.35 million. Columbia Sportswear had a return on equity of 17.87% and a net margin of 10.13%. The company’s revenue for the quarter increased 2.1% year over year. In the same quarter of the previous year, the company had earned earnings per share of $0.61. On average, analysts predict Columbia Sportswear will post 5.18 earnings per share for the current year.
Columbia Sportswear Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31. Shareholders of record on Wednesday August 17 received a dividend of $0.30. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Tuesday, August 16. Columbia Sportswear’s dividend payout ratio (DPR) is currently 23.76%.
Insider buying and selling
In other Columbia Sportswear news, Chief Financial Officer Jim A. Swanson acquired 500 shares of the company in a transaction that took place on Monday, August 29. The shares were acquired at an average cost of $72.99 per share, with a total value of $36,495.00. Following the acquisition, the CFO now directly owns 5,197 shares of the company, valued at approximately $379,329.03. The transaction was disclosed in an SEC filing, which is available via the SEC website. Company insiders own 42.37% of the company’s shares.
Hedge funds weigh on Columbia Sportswear
A number of hedge funds have recently changed their stock holdings. Verition Fund Management LLC increased its stake in shares of Columbia Sportswear by 393.4% in the second quarter. Verition Fund Management LLC now owns 12,379 shares of the textile maker worth $886,000 after acquiring 9,870 additional shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Columbia Sportswear by 5.4% in the second quarter. Goldman Sachs Group Inc. now owns 169,492 shares of the textile maker worth $12,132,000 after acquiring 8,691 additional shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Columbia Sportswear by 324.2% in the second quarter. Captrust Financial Advisors now owns 11,751 shares of the textile maker worth $841,000 after acquiring 8,981 additional shares in the last quarter. Jane Street Group LLC increased its stake in shares of Columbia Sportswear by 57.3% in the second quarter. Jane Street Group LLC now owns 27,629 shares of the textile maker worth $1,978,000 after acquiring an additional 10,060 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Columbia Sportswear by 35.8% during the second quarter. Thrivent Financial for Lutherans now owns 12,343 shares of the textile maker worth $884,000 after buying 3,252 additional shares in the last quarter. 48.56% of the shares are held by institutional investors and hedge funds.
A Wall Street analyst gives his opinion
A number of stock analysts have recently released reports on the company. StockNews.com downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a Friday, August 5, report. Stifel Nicolaus reduced his price target on Columbia Sportswear from $100.00 to $81.00 in a Wednesday, July 20 research report. UBS Group reduced its target price on Columbia Sportswear from $83.00 to $80.00 and set a “neutral” rating for the company in a Thursday, July 28 research report. Citigroup reduced its target price on Columbia Sportswear from $98.00 to $80.00 in a Thursday, July 28 research report. Finally, Cowen reduced his target price on Columbia Sportswear to $95.00 in a Monday, July 25 research report. One financial analyst has assigned the stock a sell rating, five have issued a hold rating and three have assigned the company’s stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.38.
Columbia Sportswear Company Profile
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, the 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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