Columbia Sportswear (NASDAQ:COLM) Shares Gap Down Following Weak Earnings

Columbia Sportswear (NASDAQ:COLM)’s stock price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $85.86, but opened at $79.00. Columbia Sportswear shares last traded at $81.20, with a volume of 273,125 shares.

The textile maker reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($0.06). Columbia Sportswear had a return on equity of 12.48% and a net margin of 6.42%.

Columbia Sportswear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.49%. Columbia Sportswear’s dividend payout ratio is presently 33.15%.

Analyst Ratings Changes

Several equities research analysts have commented on COLM shares. Stifel Nicolaus upped their price target on Columbia Sportswear from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. TD Cowen increased their target price on Columbia Sportswear from $70.00 to $84.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. Finally, StockNews.com upgraded Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th.

Hedge Funds Weigh In On Columbia Sportswear

Several large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in Columbia Sportswear by 19.8% in 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 during the period. Boston Trust Walden Corp boosted its holdings in Columbia Sportswear by 0.3% in the 4th quarter. Boston Trust Walden Corp now owns 1,284,140 shares of the textile maker’s stock valued at $107,778,000 after purchasing an additional 3,214 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Columbia Sportswear by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 604,824 shares of the textile maker’s stock valued at $50,328,000 after purchasing an additional 4,727 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Columbia Sportswear by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 550,622 shares of the textile maker’s stock valued at $45,806,000 after acquiring an additional 1,758 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Columbia Sportswear by 11.6% during the 4th quarter. Bank of New York Mellon Corp now owns 418,531 shares of the textile maker’s stock worth $35,127,000 after purchasing an additional 43,654 shares during the last quarter. Institutional investors and hedge funds own 47.76% of the company’s stock.

Columbia Sportswear Stock Down 6.0 %

The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 3.32 and a beta of 0.93. The stock has a 50 day moving average of $86.58 and a 200 day moving average of $83.07.

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.