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
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
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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