Columbia Sportswear (NASDAQ:COLM) Stock: Insider Joseph Boyle Sells 19,129 Shares

Columbia Sportswear Company (NASDAQ:COLM) insider Joseph Boyle sold 19,129 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $70.47, for a total value of $1,348,020.63. Following the sale, the insider owned 2,776,714 shares of the company’s stock, valued at approximately $195,675,035.58. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Columbia Sportswear Stock Performance

Shares of COLM stock traded up $0.87 during mid-day trading on Wednesday, reaching $70.93. 1,260,470 shares of the company’s stock traded hands, compared to its average volume of 794,150. Columbia Sportswear Company has a 12 month low of $49.56 and a 12 month high of $72.63. The firm has a 50 day moving average price of $59.10 and a two-hundred day moving average price of $59.98. The firm has a market capitalization of $3.63 billion, a PE ratio of 19.30 and a beta of 0.88.

Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Thursday, October 29th. The textile maker reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.38. The company had revenue of $962.58 million during the quarter, compared to analyst estimates of $944.91 million. Columbia Sportswear had a net margin of 6.97% and a return on equity of 11.71%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 EPS. As a group, equities analysts expect that Columbia Sportswear Company will post 3.91 earnings per share for the current fiscal year.

Columbia Sportswear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, November 19th. Columbia Sportswear’s payout ratio is 26.32%.

Hedge Funds Weigh In On Columbia Sportswear

A number of hedge funds have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA increased its holdings in Columbia Sportswear by 16.5% during the 3rd quarter. Pictet Asset Management Holding SA now owns 4,324 shares of the textile maker’s stock worth $248,000 after purchasing an additional 614 shares during the period. CenterBook Partners LP purchased a new stake in shares of Columbia Sportswear in the 3rd quarter worth $822,000. State of Wyoming lifted its holdings in shares of Columbia Sportswear by 357.0% in the 3rd quarter. State of Wyoming now owns 10,708 shares of the textile maker’s stock worth $615,000 after buying an additional 8,365 shares during the period. Signaturefd LLC lifted its holdings in shares of Columbia Sportswear by 63.4% in the 3rd quarter. Signaturefd LLC now owns 1,716 shares of the textile maker’s stock worth $99,000 after buying an additional 666 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Columbia Sportswear during the 3rd quarter worth $1,172,000. 47.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COLM has been the subject of several research reports. Weiss Ratings upgraded shares of Columbia Sportswear from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, August 17th. UBS Group restated a “sell” rating and issued a $49.00 target price (up from $47.00) on shares of Columbia Sportswear in a report on Friday, October 30th. BTIG Research upped their target price on shares of Columbia Sportswear from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Zacks Research downgraded shares of Columbia Sportswear from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Robert W. Baird set a $65.00 price target on Columbia Sportswear in a research report on Friday, July 31st. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $66.40.

About Columbia Sportswear

Columbia Sportswear Company is an outdoor and active lifestyle apparel, footwear, accessories and equipment company headquartered in Portland, Oregon. Founded in 1938 as the Columbia Hat Company, the business has grown into a global outdoor brand focused on products designed for activities such as hiking, skiing, fishing, camping and everyday outdoor use.

The company markets products under the Columbia, Sorel, Mountain Hardwear and prAna brands. Its offerings include jackets, shirts, pants, base layers, footwear, hats, gloves, backpacks and other outdoor accessories.