Columbia Sportswear (NASDAQ:COLM) Shares Gap Down After Earnings Miss

Columbia Sportswear (NASDAQ:COLM) gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. 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 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.06). Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.48%.

Columbia Sportswear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors 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 1.48%. The ex-dividend date is Monday, March 10th. Columbia Sportswear’s payout ratio is currently 31.01%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on COLM. TD Cowen lifted their target price on shares of Columbia Sportswear from $70.00 to $84.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. StockNews.com cut Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Stifel Nicolaus increased their target price on Columbia Sportswear from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COLM. Pacer Advisors Inc. increased its position in shares of Columbia Sportswear by 19.8% during 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 in the last quarter. International Assets Investment Management LLC purchased a new stake in Columbia Sportswear during the 3rd quarter valued at $7,676,000. Assenagon Asset Management S.A. bought a new stake in shares of Columbia Sportswear in the 4th quarter worth $6,356,000. New York State Common Retirement Fund raised its stake in shares of Columbia Sportswear by 39.6% in the third quarter. New York State Common Retirement Fund now owns 259,406 shares of the textile maker’s stock worth $21,580,000 after purchasing an additional 73,602 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Columbia Sportswear by 11.6% during the fourth quarter. Bank of New York Mellon Corp now owns 418,531 shares of the textile maker’s stock valued at $35,127,000 after purchasing an additional 43,654 shares in the last quarter. Institutional investors own 47.76% of the company’s stock.

Columbia Sportswear Stock Down 5.7 %

The business has a fifty day moving average price of $86.46 and a 200-day moving average price of $83.05. The stock has a market capitalization of $4.63 billion, a P/E ratio of 22.37, a P/E/G ratio of 3.32 and a beta of 0.93.

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.