Columbia Sportswear (NASDAQ:COLM) Sets New 12-Month High – Here’s Why

Columbia Sportswear (NASDAQ:COLM)’s stock price hit a new 52-week high on Monday . The company traded as high as $88.00 and last traded at $88.00, with a volume of 71202 shares traded. The stock had previously closed at $83.48.

Analyst Upgrades and Downgrades

COLM has been the subject of several research reports. TD Cowen lifted their price target on shares of Columbia Sportswear from $70.00 to $84.00 and gave the company a “hold” rating in a research report on Tuesday. StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $78.75.

Columbia Sportswear Stock Up 0.3 %

The company has a 50-day simple moving average of $81.60 and a two-hundred day simple moving average of $81.30. The firm has a market cap of $4.98 billion, a PE ratio of 24.01, a PEG ratio of 3.71 and a beta of 0.92.

Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.20. Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.48%. The firm had revenue of $931.80 million for the quarter, compared to analysts’ expectations of $937.17 million. During the same period in the previous year, the company earned $1.70 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities analysts predict that Columbia Sportswear will post 3.87 earnings per share for the current year.

Columbia Sportswear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Columbia Sportswear’s dividend payout ratio (DPR) is 33.15%.

Institutional Trading of Columbia Sportswear

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Columbia Sportswear by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,170,400 shares of the textile maker’s stock worth $257,373,000 after acquiring an additional 21,104 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Columbia Sportswear by 1.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 24,707 shares of the textile maker’s stock worth $2,005,000 after purchasing an additional 413 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Columbia Sportswear by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,690 shares of the textile maker’s stock valued at $2,005,000 after purchasing an additional 970 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Columbia Sportswear by 7.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,698 shares of the textile maker’s stock valued at $348,000 after buying an additional 336 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in Columbia Sportswear in the 1st quarter worth approximately $845,000. 47.76% of the stock is currently owned by institutional investors.

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.