Columbia Sportswear (NASDAQ:COLM) Shares Gap Up Following Strong Earnings

Columbia Sportswear (NASDAQ:COLM - Get Free Report) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $79.01, but opened at $86.00. Columbia Sportswear shares last traded at $82.38, with a volume of 269,250 shares traded.

The textile maker reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.36. Columbia Sportswear had a return on equity of 14.11% and a net margin of 7.21%. The business had revenue of $769.98 million for the quarter, compared to analyst estimates of $740.62 million. During the same period in the previous year, the company earned $0.74 earnings per share. The company's revenue for the quarter was down 6.2% compared to the same quarter last year.

Columbia Sportswear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.50%. Columbia Sportswear's dividend payout ratio (DPR) is 29.06%.

Wall Street Analyst Weigh In

A number of research firms recently commented on COLM. Stifel Nicolaus lifted their price target on Columbia Sportswear from $75.00 to $84.00 and gave the stock a "hold" rating in a research note on Friday. StockNews.com downgraded Columbia Sportswear from a "buy" rating to a "hold" rating in a research note on Tuesday, January 9th. Finally, UBS Group decreased their target price on Columbia Sportswear from $62.00 to $59.00 and set a "sell" rating for the company in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $78.60.

Insider Buying and Selling

In related news, Director Stephen E. Babson sold 2,411 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $80.98, for a total transaction of $195,242.78. Following the sale, the director now owns 122,879 shares of the company's stock, valued at $9,950,741.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Stephen E. Babson sold 2,411 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $80.98, for a total transaction of $195,242.78. Following the sale, the director now owns 122,879 shares of the company's stock, valued at $9,950,741.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronald E. Nelson sold 5,768 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $82.05, for a total value of $473,264.40. Following the sale, the director now directly owns 16,857 shares in the company, valued at approximately $1,383,116.85. The disclosure for this sale can be found here. 43.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC grew its position in Columbia Sportswear by 76.2% during the 4th quarter. Venturi Wealth Management LLC now owns 451 shares of the textile maker's stock worth $36,000 after purchasing an additional 195 shares in the last quarter. Fifth Third Bancorp grew its position in Columbia Sportswear by 44.3% during the 3rd quarter. Fifth Third Bancorp now owns 502 shares of the textile maker's stock worth $37,000 after purchasing an additional 154 shares in the last quarter. TFO Wealth Partners LLC grew its position in Columbia Sportswear by 11,725.0% during the 4th quarter. TFO Wealth Partners LLC now owns 473 shares of the textile maker's stock worth $38,000 after purchasing an additional 469 shares in the last quarter. Signaturefd LLC grew its position in Columbia Sportswear by 125.7% during the 3rd quarter. Signaturefd LLC now owns 607 shares of the textile maker's stock worth $45,000 after purchasing an additional 338 shares in the last quarter. Finally, Quent Capital LLC grew its position in Columbia Sportswear by 79.6% during the 4th quarter. Quent Capital LLC now owns 616 shares of the textile maker's stock worth $49,000 after purchasing an additional 273 shares in the last quarter. Institutional investors own 47.76% of the company's stock.

Columbia Sportswear Trading Up 1.3 %

The stock has a market capitalization of $4.76 billion, a PE ratio of 19.76, a PEG ratio of 3.27 and a beta of 0.94. The firm's 50-day simple moving average is $78.82 and its two-hundred day simple moving average is $77.92.

About Columbia Sportswear

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.