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

Shares of Columbia Sportswear (NASDAQ:COLM) reached a new 52-week high during trading on Monday . The company traded as high as $88.00 and last traded at $88.00, with a volume of 71202 shares traded. The stock had previously closed at $83.48.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.00.

Columbia Sportswear Price Performance

The stock has a market cap of $5.04 billion, a PE ratio of 24.14, a PEG ratio of 3.52 and a beta of 0.92. The company’s fifty day moving average is $81.44 and its 200-day moving average is $81.25.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.20. Columbia Sportswear had a return on equity of 12.48% and a net margin of 6.42%. The business had revenue of $931.80 million during the quarter, compared to analysts’ expectations of $937.17 million. During the same quarter in the previous year, the firm posted $1.70 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts expect that Columbia Sportswear will post 3.87 EPS for the current year.

Columbia Sportswear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a $0.30 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.36%. Columbia Sportswear’s dividend payout ratio (DPR) is currently 33.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. increased its stake in Columbia Sportswear by 44.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,480,868 shares of the textile maker’s stock worth $117,107,000 after buying an additional 454,738 shares in the last quarter. American Century Companies Inc. lifted its holdings in Columbia Sportswear by 153.3% in 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 in the last quarter. AQR Capital Management LLC boosted its stake in Columbia Sportswear by 149.0% during the 2nd quarter. AQR Capital Management LLC now owns 195,933 shares of the textile maker’s stock worth $15,463,000 after purchasing an additional 117,260 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Columbia Sportswear during the 3rd quarter worth $7,676,000. Finally, Marshall Wace LLP raised its position in shares of Columbia Sportswear by 1,574.3% in the second quarter. Marshall Wace LLP now owns 80,383 shares of the textile maker’s stock valued at $6,357,000 after buying an additional 75,582 shares during the last quarter. Hedge funds and other institutional investors 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.