Columbia Sportswear (NASDAQ:COLM) Shares Gap Down – Here’s What Happened

Shares of Columbia Sportswear (NASDAQ:COLM) gapped down prior to trading on Thursday . The stock had previously closed at $82.89, but opened at $79.92. Columbia Sportswear shares last traded at $82.79, with a volume of 13,520 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on COLM. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Columbia Sportswear in a report on Thursday, July 18th. StockNews.com cut shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Finally, Stifel Nicolaus raised Columbia Sportswear from a “hold” rating to a “buy” rating and boosted their target price for the company from $84.00 to $92.00 in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Columbia Sportswear currently has an average rating of “Hold” and an average target price of $77.00.

Columbia Sportswear Price Performance

The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.00 and a beta of 0.92. The firm has a 50-day moving average price of $81.43 and a two-hundred day moving average price of $80.62.

Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Thursday, July 25th. The textile maker reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.14. Columbia Sportswear had a net margin of 6.72% and a return on equity of 13.01%. The business had revenue of $570.20 million during the quarter, compared to the consensus estimate of $569.37 million. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities analysts predict that Columbia Sportswear will post 3.84 EPS for the current year.

Columbia Sportswear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.44%. The ex-dividend date was Thursday, August 15th. Columbia Sportswear’s dividend payout ratio (DPR) is currently 29.27%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COLM. GAMMA Investing LLC raised its stake in Columbia Sportswear by 51.3% in the 3rd quarter. GAMMA Investing LLC now owns 419 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 142 shares during the period. State of Michigan Retirement System raised its holdings in Columbia Sportswear by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 8,474 shares of the textile maker’s stock valued at $688,000 after acquiring an additional 200 shares during the period. Blue Trust Inc. lifted its position in Columbia Sportswear by 116.6% during the second quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock worth $34,000 after acquiring an additional 225 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Columbia Sportswear by 7.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,698 shares of the textile maker’s stock worth $348,000 after acquiring an additional 336 shares during the period. Finally, Inspire Investing LLC grew its holdings in Columbia Sportswear by 2.6% in the 1st quarter. Inspire Investing LLC now owns 14,076 shares of the textile maker’s stock valued at $1,143,000 after buying an additional 361 shares in the last quarter. 47.76% of the stock is currently owned by institutional investors and hedge funds.

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.