Oxford Industries (NYSE:OXM) Stock Price Down 6% – Here’s Why

Oxford Industries, Inc. (NYSE:OXM) shares fell 6% during mid-day trading on Monday . The company traded as low as $42.93 and last traded at $42.7650. 26,783 shares changed hands during trading, a decline of 92% from the average session volume of 327,137 shares. The stock had previously closed at $45.48.

Wall Street Analyst Weigh In

OXM has been the subject of a number of research reports. Truist Financial lowered their price objective on shares of Oxford Industries from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Friday, March 27th. UBS Group cut their price objective on shares of Oxford Industries from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Telsey Advisory Group upped their price objective on shares of Oxford Industries from $36.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, April 22nd. Citigroup increased their price target on shares of Oxford Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 30th. Finally, Zacks Research downgraded shares of Oxford Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $38.00.

Oxford Industries Stock Down 3.8%

The firm has a market cap of $651.38 million, a price-to-earnings ratio of -22.55 and a beta of 1.03. The business’s 50 day moving average price is $39.86 and its 200 day moving average price is $38.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.48 and a current ratio of 1.10.

Oxford Industries (NYSE:OXM) last announced its earnings results on Thursday, March 26th. The textile maker reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). Oxford Industries had a negative net margin of 1.89% and a positive return on equity of 5.68%. The business had revenue of $374.49 million for the quarter, compared to analysts’ expectations of $372.30 million. During the same quarter last year, the business earned $1.37 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts forecast that Oxford Industries, Inc. will post 2.51 EPS for the current year.

Oxford Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 17th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date was Friday, April 17th. This is an increase from Oxford Industries’s previous quarterly dividend of $0.69. Oxford Industries’s payout ratio is -144.33%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its holdings in Oxford Industries by 3.0% in the 2nd quarter. Cerity Partners LLC now owns 9,914 shares of the textile maker’s stock valued at $399,000 after purchasing an additional 286 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Oxford Industries by 46.6% in the 4th quarter. GAMMA Investing LLC now owns 925 shares of the textile maker’s stock worth $32,000 after acquiring an additional 294 shares during the last quarter. Signaturefd LLC increased its stake in shares of Oxford Industries by 28.1% in the 4th quarter. Signaturefd LLC now owns 1,368 shares of the textile maker’s stock worth $47,000 after acquiring an additional 300 shares during the last quarter. CWM LLC increased its stake in shares of Oxford Industries by 61.5% in the 3rd quarter. CWM LLC now owns 801 shares of the textile maker’s stock worth $32,000 after acquiring an additional 305 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in shares of Oxford Industries by 4.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 7,696 shares of the textile maker’s stock worth $296,000 after acquiring an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

About Oxford Industries

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.