Columbia Sportswear (NASDAQ:COLM) Hits New 52-Week High – Here’s Why

Columbia Sportswear (NASDAQ:COLM)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $91.98 and last traded at $91.40, with a volume of 66844 shares. The stock had previously closed at $90.30.

Analyst Upgrades and Downgrades

Several research firms have commented on COLM. StockNews.com lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Stifel Nicolaus upped 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. Finally, TD Cowen raised their target price on Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th.

Columbia Sportswear Trading Up 1.7 %

The company has a market capitalization of $5.25 billion, a PE ratio of 23.72, a PEG ratio of 2.54 and a beta of 0.93. The company has a fifty day simple moving average of $85.29 and a 200-day simple moving average of $83.36.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Tuesday, February 4th. 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 return on equity of 12.23% and a net margin of 6.63%. On average, equities analysts predict that Columbia Sportswear will post 4.1 EPS for the current fiscal year.

Columbia Sportswear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Monday, March 10th. Columbia Sportswear’s payout ratio is 31.01%.

Insider Transactions at Columbia Sportswear

In other news, Director Ronald E. Nelson sold 6,395 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.74, for a total transaction of $522,727.30. Following the sale, the director now owns 17,048 shares of the company’s stock, valued at approximately $1,393,503.52. This represents a 27.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 44.70% of the company’s stock.

Institutional Trading of Columbia Sportswear

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Columbia Sportswear during the 4th quarter worth $25,710,000. Pacer Advisors Inc. lifted its holdings in shares of Columbia Sportswear by 19.8% in the 3rd quarter. Pacer Advisors Inc. now owns 1,773,584 shares of the textile maker’s stock valued at $147,544,000 after purchasing an additional 292,716 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Columbia Sportswear by 447.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 294,471 shares of the textile maker’s stock valued at $24,715,000 after buying an additional 240,709 shares during the last quarter. Barclays PLC raised its position in Columbia Sportswear by 487.8% during the 4th quarter. Barclays PLC now owns 271,293 shares of the textile maker’s stock worth $22,770,000 after buying an additional 225,140 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Columbia Sportswear by 18.0% during the 4th quarter. American Century Companies Inc. now owns 884,731 shares of the textile maker’s stock worth $74,255,000 after purchasing an additional 134,813 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.