Oxford Industries (NYSE:OXM) Shares Down 7.4% Following Analyst Downgrade

Oxford Industries, Inc. (NYSE:OXM) traded down 7.4% during trading on Monday after Citigroup lowered their price target on the stock from $52.00 to $47.00. Citigroup currently has a sell rating on the stock. Oxford Industries traded as low as $50.95 and last traded at $52.97. 81,923 shares were traded during mid-day trading, a decline of 76% from the average session volume of 342,550 shares. The stock had previously closed at $57.17.

OXM has been the subject of several other reports. Telsey Advisory Group dropped their price objective on Oxford Industries from $86.00 to $68.00 and set a “market perform” rating for the company in a research note on Monday, March 24th. KeyCorp reiterated a “sector weight” rating on shares of Oxford Industries in a research report on Friday, March 28th. Finally, UBS Group reduced their price target on shares of Oxford Industries from $66.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, March 28th.

Insider Buying and Selling

In other news, Director Milford W. Mcguirt bought 1,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was bought at an average price of $58.70 per share, for a total transaction of $58,700.00. Following the completion of the transaction, the director now directly owns 7,180 shares in the company, valued at $421,466. The trade was a 16.18 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Tracey Hernandez sold 1,250 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $86.92, for a total value of $108,650.00. Following the transaction, the senior vice president now directly owns 1,681 shares in the company, valued at $146,112.52. This trade represents a 42.65 % decrease in their position. The disclosure for this sale can be found here. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OXM. Walleye Capital LLC acquired a new stake in Oxford Industries during the 3rd quarter worth $575,000. Captrust Financial Advisors lifted its stake in Oxford Industries by 56.0% in the third quarter. Captrust Financial Advisors now owns 4,380 shares of the textile maker’s stock valued at $380,000 after buying an additional 1,573 shares during the period. State Street Corp boosted its holdings in Oxford Industries by 1.3% during the third quarter. State Street Corp now owns 559,581 shares of the textile maker’s stock worth $48,549,000 after buying an additional 7,336 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of Oxford Industries during the 3rd quarter worth about $2,742,000. Finally, Wellington Management Group LLP raised its position in shares of Oxford Industries by 22.7% in the 3rd quarter. Wellington Management Group LLP now owns 553,382 shares of the textile maker’s stock valued at $48,011,000 after acquiring an additional 102,525 shares during the period. Institutional investors own 91.16% of the company’s stock.

Oxford Industries Stock Down 7.1 %

The firm’s 50 day moving average is $66.48 and its two-hundred day moving average is $75.44. The company has a current ratio of 1.42, a quick ratio of 0.71 and a debt-to-equity ratio of 0.09. The firm has a market cap of $789.35 million, a P/E ratio of 59.66 and a beta of 1.40.

Oxford Industries (NYSE:OXM) last released its quarterly earnings data on Thursday, March 27th. The textile maker reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. Oxford Industries had a net margin of 0.98% and a return on equity of 19.09%. The business had revenue of $390.51 million during the quarter, compared to analysts’ expectations of $383.94 million. During the same quarter in the prior year, the company earned $1.90 EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, research analysts anticipate that Oxford Industries, Inc. will post 6.62 EPS for the current fiscal year.

Oxford Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Thursday, April 17th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.76 dividend on an annualized basis and a yield of 5.20%. This is a positive change from Oxford Industries’s previous quarterly dividend of $0.67. Oxford Industries’s payout ratio is presently 47.02%.

Oxford Industries Company Profile

Oxford Industries, Inc, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men's and women's sportswear and related products under the Tommy Bahama brand; and women's and girl's dresses and sportswear, scarves, bags, jewelry, and belts, as well as children's apparel, swim, footwear, and licensed products under the Lilly Pulitzer brand.