Columbia Sportswear (NASDAQ:COLM) Sees Significant Decline in Short Interest

Columbia Sportswear (NASDAQ:COLM) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,530,000 shares, a drop of 20.3% from the November 15th total of 4,430,000 shares. Approximately 12.3% of the shares of the company are sold short. Based on an average daily volume of 427,900 shares, the days-to-cover ratio is currently 8.2 days.

Columbia Sportswear Price Performance

Shares of COLM stock opened at $88.74 on Monday. The business’s fifty day moving average price is $83.26 and its 200 day moving average price is $81.69. The firm has a market capitalization of $5.08 billion, a PE ratio of 24.51, a P/E/G ratio of 3.74 and a beta of 0.94. Columbia Sportswear has a 1-year low of $73.04 and a 1-year high of $91.24.

Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20. The business had revenue of $931.80 million for the quarter, compared to analysts’ expectations of $937.17 million. Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.48%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.70 EPS. Equities research analysts expect that Columbia Sportswear will post 3.89 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.35%. Columbia Sportswear’s payout ratio is 33.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com upgraded Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. TD Cowen upped their price objective on shares of Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus lifted their target price on shares of Columbia Sportswear from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $80.75.

Institutional Investors Weigh In On Columbia Sportswear

Several institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in Columbia Sportswear by 44.3% during the second quarter. Pacer Advisors Inc. now owns 1,480,868 shares of the textile maker’s stock worth $117,107,000 after purchasing an additional 454,738 shares during the last quarter. American Century Companies Inc. increased its position in shares of Columbia Sportswear by 153.3% in the second quarter. American Century Companies Inc. now owns 616,110 shares of the textile maker’s stock valued at $48,722,000 after buying an additional 372,886 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Columbia Sportswear by 149.0% during the 2nd quarter. AQR Capital Management LLC now owns 195,933 shares of the textile maker’s stock worth $15,463,000 after buying an additional 117,260 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Columbia Sportswear in the 3rd quarter worth about $7,676,000. Finally, Marshall Wace LLP grew its stake in Columbia Sportswear by 1,574.3% in the 2nd quarter. Marshall Wace LLP now owns 80,383 shares of the textile maker’s stock valued at $6,357,000 after acquiring an additional 75,582 shares during the last quarter. Hedge funds and other institutional investors own 47.76% of the company’s stock.

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.