Columbia Sportswear (NASDAQ:COLM) had its price objective hoisted by Buckingham Research from $80.00 to $84.00 in a research note issued to investors on Thursday morning. Buckingham Research currently has a neutral rating on the textile maker’s stock.
COLM has been the subject of several other research reports. Pivotal Research lowered Columbia Sportswear from a buy rating to a hold rating and lifted their price objective for the stock from $95.00 to $96.00 in a report on Wednesday, July 25th. FBR & Co lowered Columbia Sportswear from an outperform rating to a $93.43 rating and set a $84.00 price objective for the company. in a report on Wednesday, July 18th. BidaskClub raised Columbia Sportswear from a buy rating to a strong-buy rating in a report on Tuesday, May 22nd. B. Riley reaffirmed a neutral rating and issued a $84.00 price objective (up previously from $81.00) on shares of Columbia Sportswear in a report on Wednesday, July 18th. Finally, Needham & Company LLC began coverage on Columbia Sportswear in a report on Monday, April 23rd. They issued a buy rating and a $87.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $87.44.
Columbia Sportswear stock opened at $90.87 on Thursday. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. Columbia Sportswear has a 12 month low of $54.89 and a 12 month high of $95.58.
Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Thursday, July 26th. The textile maker reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.26. Columbia Sportswear had a return on equity of 14.79% and a net margin of 5.19%. The company had revenue of $481.62 million during the quarter, compared to analyst estimates of $453.27 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Columbia Sportswear’s revenue was up 20.7% compared to the same quarter last year. sell-side analysts expect that Columbia Sportswear will post 3.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 30th. Investors of record on Thursday, August 16th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $0.88 annualized dividend and a yield of 0.97%. Columbia Sportswear’s dividend payout ratio (DPR) is presently 29.53%.
Columbia Sportswear declared that its board has authorized a stock buyback plan on Monday, August 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the textile maker to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, CAO Peter J. Bragdon sold 12,005 shares of Columbia Sportswear stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $89.09, for a total transaction of $1,069,525.45. Following the transaction, the chief accounting officer now directly owns 31,845 shares in the company, valued at $2,837,071.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward S. George sold 5,030 shares of Columbia Sportswear stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $91.30, for a total value of $459,239.00. Following the transaction, the director now owns 7,030 shares in the company, valued at $641,839. The disclosure for this sale can be found here. Insiders have sold 18,535 shares of company stock worth $1,665,264 over the last quarter. 56.68% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COLM. Public Employees Retirement Association of Colorado purchased a new position in Columbia Sportswear during the second quarter valued at $104,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Columbia Sportswear in the first quarter valued at about $109,000. Point72 Asset Management L.P. purchased a new position in shares of Columbia Sportswear in the second quarter valued at about $119,000. Fort L.P. purchased a new position in shares of Columbia Sportswear in the second quarter valued at about $121,000. Finally, NewSquare Capital LLC purchased a new position in shares of Columbia Sportswear in the second quarter valued at about $165,000. Institutional investors own 39.56% of the company’s stock.
About Columbia Sportswear
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active 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 that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.
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