Columbia Sportswear (NASDAQ:COLM) Shares Gap Down Following Weak Earnings

Columbia Sportswear (NASDAQ:COLM) gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $85.86, but opened at $79.00. Columbia Sportswear shares last traded at $81.20, with a volume of 273,125 shares changing hands.

The textile maker reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.06). Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.48%.

Columbia Sportswear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, March 10th. This represents a $1.20 annualized dividend and a yield of 1.51%. Columbia Sportswear’s dividend payout ratio (DPR) is presently 33.15%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COLM shares. TD Cowen upped their price objective on Columbia Sportswear from $70.00 to $84.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. StockNews.com lowered Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Stifel Nicolaus increased their target price on Columbia Sportswear from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th.

Hedge Funds Weigh In On Columbia Sportswear

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Columbia Sportswear in the fourth quarter valued at $1,904,000. Proficio Capital Partners LLC purchased a new stake in Columbia Sportswear during the fourth quarter valued at about $1,472,000. Victory Capital Management Inc. boosted its position in Columbia Sportswear by 2.4% during the fourth quarter. Victory Capital Management Inc. now owns 15,318 shares of the textile maker’s stock valued at $1,286,000 after buying an additional 365 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Columbia Sportswear by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 564,422 shares of the textile maker’s stock worth $47,372,000 after purchasing an additional 13,800 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Columbia Sportswear by 184.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the textile maker’s stock worth $25,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 47.76% of the company’s stock.

Columbia Sportswear Stock Down 1.6 %

The company has a market capitalization of $4.56 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 3.32 and a beta of 0.93. The stock’s fifty day moving average price is $86.46 and its two-hundred day moving average price is $83.05.

Columbia Sportswear Company Profile

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.