Columbia Sportswear (NASDAQ:COLM) Shares Gap Up on Better-Than-Expected Earnings

Columbia Sportswear (NASDAQ:COLM)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $79.01, but opened at $86.00. Columbia Sportswear shares last traded at $82.38, with a volume of 269,250 shares trading hands.

The textile maker reported $0.71 EPS for the quarter, beating the consensus estimate of $0.35 by $0.36. Columbia Sportswear had a return on equity of 14.11% and a net margin of 7.21%. The firm had revenue of $769.98 million during the quarter, compared to the consensus estimate of $740.62 million. During the same period in the prior year, the company earned $0.74 EPS. The firm’s revenue was down 6.2% compared to the same quarter last year.

Columbia Sportswear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.44%. Columbia Sportswear’s payout ratio is currently 29.06%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COLM shares. UBS Group dropped their price target on shares of Columbia Sportswear from $62.00 to $59.00 and set a “sell” rating on the stock in a research note on Friday, February 2nd. StockNews.com downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, Columbia Sportswear currently has an average rating of “Hold” and a consensus target price of $78.00.

Insider Buying and Selling at Columbia Sportswear

In related news, Director Stephen E. Babson sold 2,411 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $80.98, for a total transaction of $195,242.78. Following the completion of the transaction, the director now owns 122,879 shares in the company, valued at approximately $9,950,741.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Columbia Sportswear news, Director Ronald E. Nelson sold 5,768 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $82.05, for a total transaction of $473,264.40. Following the completion of the sale, the director now directly owns 16,857 shares in the company, valued at approximately $1,383,116.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen E. Babson sold 2,411 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $80.98, for a total transaction of $195,242.78. Following the completion of the transaction, the director now owns 122,879 shares in the company, valued at $9,950,741.42. The disclosure for this sale can be found here. 43.00% of the stock is owned by insiders.

Institutional Trading of Columbia Sportswear

A number of institutional investors have recently added to or reduced their stakes in COLM. Venturi Wealth Management LLC lifted its position in shares of Columbia Sportswear by 76.2% during the 4th quarter. Venturi Wealth Management LLC now owns 451 shares of the textile maker’s stock worth $36,000 after buying an additional 195 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Columbia Sportswear by 44.3% in the 3rd quarter. Fifth Third Bancorp now owns 502 shares of the textile maker’s stock valued at $37,000 after acquiring an additional 154 shares during the period. TFO Wealth Partners LLC boosted its stake in Columbia Sportswear by 11,725.0% during the fourth quarter. TFO Wealth Partners LLC now owns 473 shares of the textile maker’s stock worth $38,000 after buying an additional 469 shares during the period. Signaturefd LLC boosted its holdings in Columbia Sportswear by 125.7% in the third quarter. Signaturefd LLC now owns 607 shares of the textile maker’s stock valued at $45,000 after purchasing an additional 338 shares in the last quarter. Finally, Quent Capital LLC raised its holdings in Columbia Sportswear by 79.6% in the fourth quarter. Quent Capital LLC now owns 616 shares of the textile maker’s stock valued at $49,000 after buying an additional 273 shares during the period. 47.76% of the stock is currently owned by institutional investors and hedge funds.

Columbia Sportswear Stock Up 5.3 %

The firm’s 50 day simple moving average is $78.82 and its two-hundred day simple moving average is $77.92. The stock has a market cap of $4.95 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 3.27 and a beta of 0.94.

About Columbia Sportswear

Columbia Sportswear Company, together with its subsidiaries, designs, develops, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.