Oxford Industries, Inc. $OXM Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. raised its stake in Oxford Industries, Inc. (NYSE:OXM) by 427.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 85,042 shares of the textile maker’s stock after buying an additional 68,932 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Oxford Industries were worth $3,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its holdings in Oxford Industries by 6.1% during the second quarter. Advisors Asset Management Inc. now owns 4,169 shares of the textile maker’s stock worth $168,000 after buying an additional 241 shares in the last quarter. Cerity Partners LLC increased its position in Oxford Industries by 3.0% during the second quarter. Cerity Partners LLC now owns 9,914 shares of the textile maker’s stock worth $399,000 after buying an additional 286 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Oxford Industries by 9.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,628 shares of the textile maker’s stock valued at $146,000 after purchasing an additional 300 shares during the period. CWM LLC lifted its position in shares of Oxford Industries by 61.5% during the 3rd quarter. CWM LLC now owns 801 shares of the textile maker’s stock worth $32,000 after purchasing an additional 305 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Oxford Industries by 2.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,094 shares of the textile maker’s stock valued at $531,000 after purchasing an additional 370 shares during the period. 91.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Oxford Industries in a report on Monday, December 29th. Wall Street Zen downgraded Oxford Industries from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Truist Financial set a $38.00 target price on shares of Oxford Industries in a research note on Wednesday, January 14th. Zacks Research cut Oxford Industries from a “hold” rating to a “strong sell” rating in a report on Friday, December 12th. Finally, KeyCorp reissued a “sector weight” rating on shares of Oxford Industries in a research note on Thursday, December 11th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $45.40.

Oxford Industries Price Performance

Shares of Oxford Industries stock opened at $38.34 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.33 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $570.51 million, a price-to-earnings ratio of -116.18 and a beta of 1.05. The company has a 50-day simple moving average of $38.46 and a two-hundred day simple moving average of $38.91. Oxford Industries, Inc. has a twelve month low of $30.57 and a twelve month high of $64.39.

Oxford Industries (NYSE:OXM) last posted its quarterly earnings results on Wednesday, December 10th. The textile maker reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.03. The business had revenue of $307.34 million for the quarter, compared to analyst estimates of $304.42 million. Oxford Industries had a negative net margin of 0.20% and a positive return on equity of 9.35%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) EPS. Analysts forecast that Oxford Industries, Inc. will post 6.62 EPS for the current year.

Insider Buying and Selling at Oxford Industries

In other news, CEO Thomas Caldecot Chubb III bought 5,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average price of $35.12 per share, with a total value of $175,600.00. Following the completion of the purchase, the chief executive officer directly owned 22,709 shares of the company’s stock, valued at approximately $797,540.08. This represents a 28.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 6.00% of the company’s stock.

Oxford Industries Profile

Oxford Industries, Inc, incorporated in 1942 and headquartered in Atlanta, Georgia, is a leading designer, marketer and distributor of high-quality men’s and women’s lifestyle apparel and accessories. The company’s product portfolio features a mix of owned brands and licensed partnerships that span casual, resort and performance categories. Key owned brands include Tommy Bahama, renowned for its island-inspired menswear and women’s sportswear, and Southern Tide, which offers coastal-focused clothing and footwear.