Columbia Sportswear (NASDAQ:COLM – Get Note) had its target price reduced by Citigroup from $98.00 to $80.00 in a research note released Thursday, reports The Fly.
COLM has been the subject of a number of other reports. TheStreet downgraded Columbia Sportswear from an ab rating to a c+ rating in a Thursday, April 28 report. Cowen cut his price target on Columbia Sportswear to $95.00 in a Monday, July 25 report. Bank of America downgraded Columbia Sportswear from a neutral rating to an underperformer and lowered its price target for the stock from $108.00 to $80.00 in a Friday, April 29 report. Robert W. Baird cut his price target on Columbia Sportswear from $110.00 to $100.00 in a Friday, April 29 report. Finally, Cowen reduced his price target on Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 research note. One research analyst rated the stock with a sell rating, four issued a hold rating and four issued the company a buy rating. Based on data from MarketBeat.com, Columbia Sportswear has an average Hold rating and a consensus target price of $89.38.
Columbia Sportswear trades up 0.5%
NASDAQ:COLM opened at $74.01 on Thursday. The company has a market capitalization of $4.65 billion, a PE ratio of 13.34, a growth price-earnings ratio of 1.47 and a beta of 0.91. The stock has a 50-day moving average of $74.59 and a 200-day moving average of $84.01. Columbia Sportswear has a 52-week low of $68.29 and a 52-week high of $107.50.
Columbia Sportswear (NASDAQ:COLM – Get Rating) last released its results on Wednesday, July 27. The textile maker reported EPS of $0.11 for the quarter, beating the consensus estimate of $0.04 by $0.07. The company posted revenue of $578.06 million in the quarter, versus analyst estimates of $592.35 million. Columbia Sportswear had a return on equity of 19.34% and a net margin of 11.19%. The company’s revenues increased by 2.1% compared to the same quarter last year. In the same period of the previous year, the company had earned earnings per share of $0.61. As a group, analysts predict Columbia Sportswear will post 5.83 EPS for the current fiscal year.
Columbia Sportswear Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31. Shareholders of record on Wednesday, August 17 will receive a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 16. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 1.62%. Columbia Sportswear’s dividend payout ratio (DPR) is currently 21.62%.
In other news, manager Stephen E. Babson sold 2,568 shares in a trade on Tuesday, May 3. The stock was sold at an average price of $81.14, for a total transaction of $208,367.52. Following the completion of the sale, the administrator now owns 112,627 shares of the company, valued at approximately $9,138,554.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. In other news, Manager Ronald E. Nelson sold 3,706 shares in a trade on Thursday, May 5. The stock was sold at an average price of $80.16, for a total value of $297,072.96. Following the completion of the sale, the administrator now owns 14,402 shares of the company, valued at $1,154,464.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Stephen E. Babson sold 2,568 shares in a trade on Tuesday, May 3. The shares were sold at an average price of $81.14, for a total value of $208,367.52. Following the completion of the sale, the director now owns 112,627 shares of the company, valued at approximately $9,138,554.78. The disclosure of this sale can be found here. Insiders hold 42.37% of the company’s shares.
Columbia Sportswear Institutional Trade
Hedge funds have recently changed their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of Columbia Sportswear in the first quarter worth $27,000. Exchange Traded Concepts LLC purchased a new stake in shares of Columbia Sportswear during the first quarter at a value of $31,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Columbia Sportswear during the fourth quarter at a value of $43,000. Lazard Asset Management LLC purchased a new stake in shares of Columbia Sportswear during the first quarter at a value of $45,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Columbia Sportswear during the second quarter at a value of $49,000. Hedge funds and other institutional investors own 48.65% of the company’s shares.
About Columbia Sportswear
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Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets and distributes outdoor, active and everyday apparel, footwear, accessories and equipment in the United States, Latin America, Asia-Pacific, Europe, the Middle East, Africa and Canada. The company provides clothing, accessories and equipment that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, running , water sports, yoga, golf and adventure travel.
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