Columbia Sportswear (NASDAQ:COLM) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Columbia Sportswear (NASDAQ:COLM) from a buy rating to a hold rating in a report released on Wednesday.

Separately, TD Cowen boosted their price target on shares of Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $78.75.

Columbia Sportswear Price Performance

COLM opened at $87.24 on Wednesday. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 3.66 and a beta of 0.92. Columbia Sportswear has a fifty-two week low of $73.04 and a fifty-two week high of $88.62. The company’s 50 day moving average price is $81.87 and its two-hundred day moving average price is $81.38.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.20. The firm had revenue of $931.80 million for the quarter, compared to analysts’ expectations of $937.17 million. Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.48%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 earnings per share. As a group, equities research analysts predict that Columbia Sportswear will post 3.89 EPS for the current year.

Columbia Sportswear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Columbia Sportswear’s dividend payout ratio (DPR) is presently 33.15%.

Hedge Funds Weigh In On Columbia Sportswear

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Columbia Sportswear by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,170,400 shares of the textile maker’s stock valued at $257,373,000 after purchasing an additional 21,104 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Columbia Sportswear by 19.8% during the third quarter. Pacer Advisors Inc. now owns 1,773,584 shares of the textile maker’s stock valued at $147,544,000 after acquiring an additional 292,716 shares in the last quarter. Boston Trust Walden Corp lifted its stake in Columbia Sportswear by 1.1% in the second quarter. Boston Trust Walden Corp now owns 1,304,761 shares of the textile maker’s stock worth $103,180,000 after acquiring an additional 13,636 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Columbia Sportswear by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,195,386 shares of the textile maker’s stock valued at $94,530,000 after acquiring an additional 56,348 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Columbia Sportswear by 153.3% during the 2nd quarter. American Century Companies Inc. now owns 616,110 shares of the textile maker’s stock valued at $48,722,000 after purchasing an additional 372,886 shares during the period. 47.76% of the stock is owned by institutional investors.

About Columbia Sportswear

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.