Insider Selling: Columbia Sportswear (NASDAQ:COLM) Insider Sells 19,129 Shares of Stock

Key Points

• Insider Joseph Boyle sold 19,129 Columbia Sportswear shares at an average $70.47, worth about $1.35 million. He retained 2,776,714 shares after the sale.
• Columbia reported quarterly EPS of $1.66, beating the $1.28 analyst consensus, while revenue of $962.6 million also topped estimates and rose 2% year over year.
• The company announced a quarterly dividend of $0.30 per share, equivalent to $1.20 annually and a 1.7% yield. Analysts’ consensus rating is Hold, with an average price target of $66.40.

Columbia Sportswear Company (NASDAQ:COLM - Get Free Report) insider Joseph Boyle sold 19,129 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $70.47, for a total transaction of $1,348,020.63. Following the transaction, the insider directly owned 2,776,714 shares of the company's stock, valued at approximately $195,675,035.58. This represents a 0.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Columbia Sportswear Trading Up 1.2%

Shares of COLM traded up $0.87 during mid-day trading on Wednesday, reaching $70.93. 1,260,470 shares of the stock traded hands, compared to its average volume of 794,150. The firm has a fifty day moving average price of $59.10 and a 200 day moving average price of $59.98. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 19.30 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 earnings results on Thursday, October 29th. The textile maker reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.38. The business had revenue of $962.58 million for the quarter, compared to analyst estimates of $944.91 million. Columbia Sportswear had a return on equity of 11.71% and a net margin of 6.97%. The company's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. On average, sell-side analysts anticipate that Columbia Sportswear Company will post 3.91 EPS for the current year.

Columbia Sportswear Dividend Announcement

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

Institutional Investors Weigh In On Columbia Sportswear

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in Columbia Sportswear in the 2nd quarter worth about $32,000. Parallel Advisors LLC lifted its stake in Columbia Sportswear by 43.6% during the 1st quarter. Parallel Advisors LLC now owns 817 shares of the textile maker's stock valued at $45,000 after acquiring an additional 248 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Columbia Sportswear by 330.8% during the 2nd quarter. Versant Capital Management Inc now owns 840 shares of the textile maker's stock valued at $52,000 after acquiring an additional 645 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Columbia Sportswear by 72.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 888 shares of the textile maker's stock valued at $49,000 after acquiring an additional 373 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new stake in shares of Columbia Sportswear during the 2nd quarter valued at about $39,000. Institutional investors own 47.76% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on COLM. Weiss Ratings raised shares of Columbia Sportswear from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Citigroup restated a "neutral" rating and issued a $68.00 price objective (up from $67.00) on shares of Columbia Sportswear in a report 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 note on Friday, July 31st. Wall Street Zen lowered shares of Columbia Sportswear from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 11th. Finally, Zacks Research cut Columbia Sportswear from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Columbia Sportswear presently has a consensus rating of "Hold" and an average price target of $66.40.

About Columbia Sportswear

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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