Insider Selling: Columbia Sportswear (NASDAQ:COLM) EVP Sells 6,857 Shares of Stock

Key Points

• EVP Lisa Kulok sold 6,857 Columbia Sportswear shares for about $469,500, reducing her holdings by 45.6% to 8,180 shares.
• Columbia Sportswear reported quarterly EPS of $1.66, beating analyst expectations of $1.28, while revenue rose 2% year over year to $962.6 million.
• The company declared a quarterly dividend of $0.30 per share. Analysts’ consensus rating was “Hold,” with an average price target of $66.40.

Columbia Sportswear Company (NASDAQ:COLM - Get Free Report) EVP Lisa Kulok sold 6,857 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $68.47, for a total value of $469,498.79. Following the completion of the sale, the executive vice president owned 8,180 shares of the company's stock, valued at $560,084.60. This trade represents a 45.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Columbia Sportswear Stock Up 1.2%

Shares of COLM stock traded up $0.87 during trading hours on Wednesday, hitting $70.93. 1,260,470 shares of the company's stock were exchanged, compared to its average volume of 794,150. The firm has a market cap of $3.63 billion, a P/E ratio of 15.55 and a beta of 0.88. The firm has a 50 day moving average of $59.10 and a two-hundred day moving average of $59.98. Columbia Sportswear Company has a fifty-two week low of $49.56 and a fifty-two week high of $72.63.

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

Columbia Sportswear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, November 19th. Columbia Sportswear's dividend payout ratio (DPR) is presently 26.32%.

Institutional Trading of Columbia Sportswear

Several large investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA increased its stake in shares of Columbia Sportswear by 16.5% in the 3rd quarter. Pictet Asset Management Holding SA now owns 4,324 shares of the textile maker's stock worth $248,000 after acquiring an additional 614 shares during the last quarter. CenterBook Partners LP purchased a new position in shares of Columbia Sportswear during the 3rd quarter worth $822,000. State of Wyoming boosted its position in shares of Columbia Sportswear by 357.0% during the 3rd quarter. State of Wyoming now owns 10,708 shares of the textile maker's stock valued at $615,000 after acquiring an additional 8,365 shares during the last quarter. Signaturefd LLC boosted its position in shares of Columbia Sportswear by 63.4% during the 3rd quarter. Signaturefd LLC now owns 1,716 shares of the textile maker's stock valued at $99,000 after acquiring an additional 666 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Columbia Sportswear during the 3rd quarter valued at about $1,172,000. 47.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup reissued a "neutral" rating and set a $68.00 target price (up from $67.00) on shares of Columbia Sportswear in a research note on Wednesday, July 22nd. UBS Group reaffirmed a "sell" rating and issued a $49.00 price target (up from $47.00) on shares of Columbia Sportswear in a research note on Friday, October 30th. Robert W. Baird set a $65.00 price objective on Columbia Sportswear in a report on Friday, July 31st. Weiss Ratings upgraded Columbia Sportswear from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Finally, BTIG Research boosted their price objective on Columbia Sportswear from $80.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, October 30th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock 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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