Short-term interest in Columbia Sportswear (NASDAQ:COLM) drops 19.3%

Columbia Sportswear (NASDAQ:COLM – Get a rating) benefited from a sharp fall in short-term interest rates in July. As of July 31, there was short interest totaling 1,090,000 shares, down 19.3% from the July 15 total of 1,350,000 shares. Approximately 3.3% of the company’s shares are sold short. Based on an average daily trading volume of 429,500 shares, the day-to-cover ratio is currently 2.5 days.

Columbia Sportswear Inventory Performance

COLM traded down $0.17 on Friday, hitting $76.39. The company had a trading volume of 248,397 shares, compared to an average volume of 407,473. Columbia Sportswear has a fifty-two-week low of $68.29 and a fifty-two-week high of $107.50. The stock has a market capitalization of $4.80 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.82 and a beta of 0.89. The company’s fifty-day moving average is $74.21 and its 200-day moving average is $82.84.

Columbia Sportswear (NASDAQ:COLM – Get a rating) last announced its quarterly results on Wednesday, July 27. The textile maker reported EPS of $0.11 for the quarter, beating consensus analyst estimates of $0.04 from $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 of the previous year, the company had achieved EPS of $0.61. Columbia Sportswear’s quarterly revenue increased 2.1% year over year. On average, sell-side analysts expect Columbia Sportswear to post 5.18 EPS for the current year.

Columbia Sportswear Dividend Announcement

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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. This represents a dividend of $1.20 on an annualized basis and a yield of 1.57%. The ex-dividend date is Tuesday, August 16. Columbia Sportswear’s dividend payout ratio is currently 23.76%.

Columbia Sportswear Institutional Trade

A number of institutional investors have recently bought and sold shares of the company. Marks Group Wealth Management Inc increased its holdings in Columbia Sportswear by 18.0% in Q2. Marks Group Wealth Management Inc now owns 74,574 shares of the textile maker valued at $5,338,000 after purchasing an additional 11,360 shares during the period. Quantbot Technologies LP purchased a new stake in Columbia Sportswear in Q2, valued at approximately $244,000. Zeke Capital Advisors LLC bought a new stake in Columbia Sportswear in Q2, valued at approximately $255,000. Renaissance Technologies LLC increased its stake in Columbia Sportswear by 866.7% in the second quarter. Renaissance Technologies LLC now owns 40,600 shares of the textile maker valued at $2,906,000 after purchasing an additional 36,400 shares during the period. Finally, LPL Financial LLC increased its stake in Columbia Sportswear by 14.7% in the second quarter. LPL Financial LLC now owns 9,916 shares of the textile maker valued at $720,000 after purchasing an additional 1,271 shares during the period. Institutional investors hold 48.65% of the company’s shares.

Analysts set new price targets

COLM has been the subject of several analyst reports. Citigroup cut its price target on Columbia Sportswear shares from $98.00 to $80.00 in a Thursday, July 28 research report. StockNews.com downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a Friday, Aug. 5 research note. Bank of America downgraded shares of Columbia Sportswear from a “neutral” rating to an “underperforming” rating and lowered its price target for the stock from $108.00 to $80.00 in a rating of research from Friday, April 29. UBS Group lowered its price target on Columbia Sportswear shares from $83.00 to $80.00 and set a “neutral” rating on the stock in a Thursday, July 28 research note. Finally, TheStreet downgraded shares of Columbia Sportswear from a “b” rating to a “c+” rating in a Thursday, April 28 research note. One equity research analyst gave the stock a sell rating, five issued a hold rating and three issued a buy rating for the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $89.38.

About Columbia Sportswear

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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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