Columbia Sportswear (NASDAQ:COLM) Hits New 1-Year High – Here’s What Happened

Columbia Sportswear (NASDAQ:COLM)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $88.64 and last traded at $88.49, with a volume of 72793 shares trading hands. The stock had previously closed at $88.10.

Wall Street Analysts Forecast Growth

COLM has been the topic of several research analyst reports. TD Cowen increased their price objective on Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. StockNews.com downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $78.75.

Columbia Sportswear Stock Performance

The stock has a market cap of $5.05 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 3.66 and a beta of 0.94. The firm’s 50 day moving average is $82.02 and its 200 day moving average is $81.39.

Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $931.80 million during the quarter, compared to analysts’ expectations of $937.17 million. During the same quarter last year, the company posted $1.70 earnings per share. The business’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, analysts expect that Columbia Sportswear will post 3.89 EPS for the current fiscal year.

Columbia Sportswear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.20 annualized dividend and a yield of 1.36%. Columbia Sportswear’s dividend payout ratio (DPR) is presently 33.15%.

Institutional Investors Weigh In On Columbia Sportswear

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in shares of Columbia Sportswear by 116.6% in the 2nd quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock valued at $34,000 after buying an additional 225 shares during the period. GAMMA Investing LLC lifted its holdings in Columbia Sportswear by 51.3% in the third quarter. GAMMA Investing LLC now owns 419 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 142 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Columbia Sportswear in the 3rd quarter worth approximately $65,000. Dnca Finance acquired a new stake in shares of Columbia Sportswear during the 2nd quarter worth approximately $68,000. Finally, nVerses Capital LLC purchased a new position in shares of Columbia Sportswear during the 3rd quarter valued at approximately $75,000. 47.76% of the stock is owned by hedge funds and other 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.