Columbia Sportswear (NASDAQ:COLM) Sees Large Volume Increase

Columbia Sportswear (NASDAQ:COLMGet Rating) saw strong trading volume on Thursday . 24,959 shares traded hands during trading, a decline of 94% from the previous session’s volume of 438,018 shares.The stock last traded at $70.00 and had previously closed at $72.28.

A number of research firms have recently weighed in on COLM. TheStreet cut Columbia Sportswear from a “b” rating to a “c+” rating in a report on Thursday, April 28th. Cowen decreased their price objective on shares of Columbia Sportswear from $116.00 to $100.00 in a research report on Friday, May 13th. Cowen reduced their target price on shares of Columbia Sportswear from $116.00 to $100.00 in a report on Friday, May 13th. StockNews.com raised shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a report on Friday, June 10th. Finally, Robert W. Baird lowered their price objective on Columbia Sportswear from $110.00 to $100.00 in a research report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $103.43.

The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The company has a 50-day simple moving average of $80.62 and a two-hundred day simple moving average of $89.12.

Columbia Sportswear (NASDAQ:COLMGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The textile maker reported $1.03 EPS for the quarter, beating the consensus estimate of $0.86 by $0.17. The business had revenue of $761.50 million for the quarter, compared to analysts’ expectations of $762.88 million. Columbia Sportswear had a net margin of 11.19% and a return on equity of 19.34%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. On average, analysts anticipate that Columbia Sportswear will post 5.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 2nd. Stockholders of record on Thursday, May 19th were issued a $0.30 dividend. The ex-dividend date was Wednesday, May 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.75%. Columbia Sportswear’s payout ratio is 21.62%.

In other news, Director Ronald E. Nelson sold 3,706 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $80.16, for a total transaction of $297,072.96. Following the completion of the transaction, the director now directly owns 14,402 shares of the company’s stock, valued at $1,154,464.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen E. Babson sold 2,568 shares of the company’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $81.14, for a total transaction of $208,367.52. Following the completion of the transaction, the director now directly owns 112,627 shares in the company, valued at $9,138,554.78. The disclosure for this sale can be found here. Insiders own 42.37% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of COLM. Teachers Retirement System of The State of Kentucky increased its holdings in Columbia Sportswear by 56.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 5,000 shares of the textile maker’s stock worth $453,000 after acquiring an additional 1,800 shares in the last quarter. Bank of America Corp DE lifted its stake in Columbia Sportswear by 10.7% during the 1st quarter. Bank of America Corp DE now owns 312,841 shares of the textile maker’s stock worth $28,323,000 after acquiring an additional 30,193 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Columbia Sportswear in the 1st quarter valued at about $227,000. Neuberger Berman Group LLC raised its holdings in Columbia Sportswear by 7.8% during the first quarter. Neuberger Berman Group LLC now owns 241,202 shares of the textile maker’s stock worth $21,836,000 after purchasing an additional 17,362 shares during the last quarter. Finally, Polar Asset Management Partners Inc. grew its position in shares of Columbia Sportswear by 6.3% in the first quarter. Polar Asset Management Partners Inc. now owns 354,260 shares of the textile maker’s stock valued at $32,071,000 after purchasing an additional 21,000 shares during the period. Institutional investors and hedge funds own 48.65% of the company’s stock.

About Columbia Sportswear (NASDAQ:COLM)

Columbia Sportswear Company, together with its subsidiaries, designs, sources, 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 that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel.

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