Brokerages Set Columbia Sportswear (NASDAQ:COLM) Price Target at $78.00

Shares of Columbia Sportswear (NASDAQ:COLM) have been given a consensus rating of “Reduce” by the five analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $78.00.

A number of brokerages have weighed in on COLM. UBS Group reduced their price target on shares of Columbia Sportswear from $62.00 to $59.00 and set a “sell” rating on the stock in a research report on Friday, February 2nd. StockNews.com cut shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th.

Columbia Sportswear Stock Performance

COLM opened at $79.01 on Tuesday. The company’s 50 day simple moving average is $78.87 and its 200 day simple moving average is $77.92. Columbia Sportswear has a 1 year low of $66.01 and a 1 year high of $88.17. The stock has a market capitalization of $4.70 billion, a PE ratio of 19.13, a P/E/G ratio of 3.24 and a beta of 0.94.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, February 1st. The textile maker reported $1.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.14). The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. Columbia Sportswear had a net margin of 7.21% and a return on equity of 14.11%. As a group, sell-side analysts expect that Columbia Sportswear will post 3.68 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.52%. Columbia Sportswear’s payout ratio is currently 29.06%.

Insider Buying and Selling

In related news, Director Ronald E. Nelson sold 5,768 shares of Columbia Sportswear stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $82.05, for a total value of $473,264.40. Following the completion of the sale, the director now owns 16,857 shares in the company, valued at $1,383,116.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Columbia Sportswear news, Director Ronald E. Nelson sold 5,768 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $82.05, for a total transaction of $473,264.40. Following the completion of the sale, the director now owns 16,857 shares in the company, valued at $1,383,116.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen E. Babson sold 2,411 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $80.98, for a total transaction of $195,242.78. Following the sale, the director now owns 122,879 shares of the company’s stock, valued at approximately $9,950,741.42. The disclosure for this sale can be found here. Insiders own 43.00% of the company’s stock.

Hedge Funds Weigh In On Columbia Sportswear

Several hedge funds and other institutional investors have recently modified their holdings of COLM. Morgan Stanley boosted its holdings in shares of Columbia Sportswear by 9.2% during the third quarter. Morgan Stanley now owns 4,352,622 shares of the textile maker’s stock valued at $322,530,000 after acquiring an additional 366,854 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Columbia Sportswear by 30.9% during the fourth quarter. Boston Trust Walden Corp now owns 1,294,410 shares of the textile maker’s stock valued at $102,957,000 after acquiring an additional 305,592 shares during the period. Norges Bank acquired a new stake in Columbia Sportswear in the fourth quarter worth about $22,526,000. Invesco Ltd. lifted its holdings in Columbia Sportswear by 89.5% in the third quarter. Invesco Ltd. now owns 475,945 shares of the textile maker’s stock worth $35,268,000 after purchasing an additional 224,755 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in Columbia Sportswear by 13.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,469,768 shares of the textile maker’s stock worth $108,910,000 after purchasing an additional 173,291 shares during the period. Institutional investors and hedge funds own 47.76% of the company’s stock.

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.