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

Columbia Sportswear (NASDAQ:COLM) shares 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.

The textile maker reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. Columbia Sportswear had a net margin of 7.21% and a return on equity of 14.11%. The business had revenue of $769.98 million during the quarter, compared to analysts’ expectations of $740.62 million. During the same quarter in the previous year, the company earned $0.74 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis.

Columbia Sportswear Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Venturi Wealth Management LLC grew its holdings in Columbia Sportswear by 76.2% during the 4th quarter. Venturi Wealth Management LLC now owns 451 shares of the textile maker’s stock valued at $36,000 after buying an additional 195 shares in the last quarter. Fifth Third Bancorp lifted its position in Columbia Sportswear by 44.3% during the 3rd quarter. Fifth Third Bancorp now owns 502 shares of the textile maker’s stock worth $37,000 after acquiring an additional 154 shares during the period. TFO Wealth Partners LLC increased its stake in shares of Columbia Sportswear by 11,725.0% during the 4th quarter. TFO Wealth Partners LLC now owns 473 shares of the textile maker’s stock worth $38,000 after purchasing an additional 469 shares in the last quarter. Signaturefd LLC increased its position in Columbia Sportswear by 125.7% during the 3rd quarter. Signaturefd LLC now owns 607 shares of the textile maker’s stock worth $45,000 after purchasing an additional 338 shares in the last quarter. Finally, Quent Capital LLC increased its holdings in shares of Columbia Sportswear by 79.6% in the 4th quarter. Quent Capital LLC now owns 616 shares of the textile maker’s stock valued at $49,000 after acquiring an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Columbia Sportswear Stock Up 5.3 %

The firm’s 50-day simple moving average is $78.82 and its 200 day simple moving average is $77.92. The stock has a market capitalization of $4.95 billion, a P/E ratio of 19.13, a PEG ratio of 3.27 and a beta of 0.94.

Columbia Sportswear Company Profile

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.