Columbia Sportswear (NASDAQ:COLM – Get Rating) – Investment analysts at Seaport Res Ptn have cut their fourth quarter 2022 EPS estimates for Columbia Sportswear shares in a research report released to clients and investors on Tuesday, July 19 . Seaport Res Ptn analyst Mr. Kummetz now expects the textile maker to post earnings per share of $2.44 for the quarter, down from its previous estimate of $2.52. The consensus estimate for Columbia Sportswear’s current annual earnings is $5.88 per share.
Columbia Sportswear (NASDAQ:COLM – Get Rating) last released its results on Thursday, April 28. The textile maker reported EPS of $1.03 for the quarter, beating the consensus estimate of $0.86 by $0.17. Columbia Sportswear had a net margin of 11.19% and a return on equity of 19.34%. The company posted revenue of $761.50 million in the quarter, compared to $762.88 million expected by analysts. During the same period last year, the company posted EPS of $0.84. The company’s quarterly revenue increased by 21.7% compared to the same quarter last year.
A number of other analysts also commented on the stock. StockNews.com upgraded Columbia Sportswear shares from a “hold” rating to a “buy” rating in a Wednesday, July 6 research note. Robert W. Baird lowered his price target on Columbia Sportswear shares from $110.00 to $100.00 in a Friday, April 29 report. Cowen lowered his target price on shares of Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 report. Cowen cut his price target on shares of Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 research note. Finally, TheStreet downgraded shares of Columbia Sportswear from a “b” rating to a “c+” rating in a Thursday, April 28 research note. One financial analyst gave the stock a sell rating, four gave the company a hold rating and four gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $99.14.
Columbia Sportswear Inventory Performance
NASDAQ:COLM opened at $76.99 on Wednesday. The company has a market capitalization of $4.84 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.47 and a beta of 0.91. Columbia Sportswear has a fifty-two week low of $68.29 and a fifty-two week high of $107.50. The company has a 50-day simple moving average of $74.96 and a two-hundred-day simple moving average of $84.99.
Hedge funds weigh on Columbia Sportswear
Institutional investors and hedge funds have recently changed their positions in the stock. Kestra Advisory Services LLC increased its stake in Columbia Sportswear by 12.8% in the fourth quarter. Kestra Advisory Services LLC now owns 4,913 shares of the textile maker valued at $479,000 after buying an additional 557 shares in the last quarter. Strs Ohio acquired a new stake in Columbia Sportswear in the fourth quarter worth $1,622,000. The New York State Teachers’ Retirement System increased its holdings in Columbia Sportswear by 251.4% in the fourth quarter. The New York State Teachers’ Retirement System now owns 7,945 shares of the textile maker valued at $774,000 after buying an additional 5,684 shares last quarter. RMB Capital Management LLC increased its stake in shares of Columbia Sportswear by 2.1% during the fourth quarter. RMB Capital Management LLC now owns 156,731 shares of the textile maker valued at $15,272,000 after acquiring 3,227 additional shares in the last quarter. Finally, Andrew Hill Investment Advisors Inc. acquired a new stake in Columbia Sportswear during the 4th quarter at a value of approximately $990,000. 48.65% of the shares are held by institutional investors and hedge funds.
Insider Activity at Columbia Sportswear
In other Columbia Sportswear news, director Stephen E. Babson sold 2,568 shares of the company in a trade on Tuesday, May 3. The stock was sold at an average price of $81.14, for a total value of $208,367.52. Following the transaction, 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 on the SEC’s website. In other news, Director Stephen E. Babson sold 2,568 shares of Columbia Sportswear 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 transaction, the administrator now owns 112,627 shares of the company, valued at approximately $9,138,554.78. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, director Ronald E. Nelson sold 3,706 shares of the company in a trade dated Thursday, May 5. The stock was sold at an average price of $80.16, for a total value of $297,072.96. Following the sale, the director now directly owns 14,402 shares of the company, valued at $1,154,464.32. The disclosure of this sale can be found here. 42.37% of the shares are held by company insiders.
Columbia Sportswear Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 2. Investors of record on Thursday, May 19 received a dividend of $0.30. The ex-dividend date was Wednesday, May 18. This represents a dividend of $1.20 on an annualized basis and a yield of 1.56%. Columbia Sportswear’s dividend payout ratio is currently 21.62%.
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, 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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