Columbia Sportswear (NASDAQ:COLM) Stock: Insider Peter Bragdon Sells 375 Shares

Key Points

• Columbia Sportswear President Peter Bragdon sold 375 shares for $26,553.75, a 1.28% reduction in his holdings; he retained 28,950 shares.
• The company reported quarterly EPS of $1.66, beating the $1.28 consensus, while revenue of $962.58 million also exceeded estimates and rose 2% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $66.40; the company also declared a quarterly dividend of $0.30 per share.

Columbia Sportswear Company (NASDAQ:COLM - Get Free Report) President Peter Bragdon sold 375 shares of Columbia Sportswear stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $70.81, for a total value of $26,553.75. Following the sale, the president directly owned 28,950 shares of the company's stock, valued at approximately $2,049,949.50. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Columbia Sportswear Price Performance

Columbia Sportswear stock traded up $0.87 during trading hours on Wednesday, hitting $70.93. 1,260,470 shares of the stock traded hands, compared to its average volume of 794,150. The firm's 50 day moving average price is $59.10 and its 200-day moving average price is $59.98. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 15.55 and a beta of 0.88. Columbia Sportswear Company has a 1 year low of $49.56 and a 1 year high of $72.63.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The textile maker reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.38. Columbia Sportswear had a return on equity of 11.71% and a net margin of 6.97%. The firm had revenue of $962.58 million during the quarter, compared to analysts' expectations of $944.91 million. During the same period last year, the business posted $1.41 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts forecast that Columbia Sportswear Company will post 3.91 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, November 19th. Columbia Sportswear's dividend payout ratio is 26.32%.

Institutional Investors Weigh In On Columbia Sportswear

Hedge funds have recently bought and sold shares of the stock. Fluent Financial LLC purchased a new position in shares of Columbia Sportswear during the 2nd quarter valued at approximately $1,737,000. Jefferies Financial Group Inc. purchased a new stake in Columbia Sportswear during the second quarter worth $668,000. Legal & General Group Plc acquired a new stake in Columbia Sportswear during the second quarter valued at $1,864,000. Bessemer Group Inc. grew its position in Columbia Sportswear by 51.9% during the first quarter. Bessemer Group Inc. now owns 87,764 shares of the textile maker's stock valued at $4,810,000 after buying an additional 29,974 shares during the period. Finally, Squarepoint Ops LLC grew its position in Columbia Sportswear by 129.7% during the second quarter. Squarepoint Ops LLC now owns 167,161 shares of the textile maker's stock valued at $10,334,000 after buying an additional 94,377 shares during the period. Hedge funds and other institutional investors own 47.76% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on COLM. Wall Street Zen cut shares of Columbia Sportswear from a "strong-buy" rating to a "buy" rating in a research note on Sunday, October 11th. Citigroup reiterated a "neutral" rating and issued a $68.00 price objective (up from $67.00) on shares of Columbia Sportswear in a research note on Wednesday, July 22nd. Stifel Nicolaus set a $67.00 target price on shares of Columbia Sportswear and gave the company a "buy" rating in a research report on Friday, July 31st. Robert W. Baird set a $65.00 price target on shares of Columbia Sportswear in a report on Friday, July 31st. Finally, BTIG Research increased their price target on Columbia Sportswear from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $66.40.

Columbia Sportswear Company Profile

Columbia Sportswear Company is an outdoor and active lifestyle apparel, footwear, accessories and equipment company headquartered in Portland, Oregon. Founded in 1938 as the Columbia Hat Company, the business has grown into a global outdoor brand focused on products designed for activities such as hiking, skiing, fishing, camping and everyday outdoor use.

The company markets products under the Columbia, Sorel, Mountain Hardwear and prAna brands. Its offerings include jackets, shirts, pants, base layers, footwear, hats, gloves, backpacks and other outdoor accessories.

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