Oxford Industries (NYSE:OXM) Shares Gap Down on Analyst Downgrade

Oxford Industries, Inc. (NYSE:OXM) gapped down before the market opened on Monday after UBS Group lowered their price target on the stock from $106.00 to $104.00. The stock had previously closed at $112.40, but opened at $100.95. UBS Group currently has a neutral rating on the stock. Oxford Industries shares last traded at $107.12, with a volume of 84,630 shares.

OXM has been the subject of several other research reports. Citigroup cut Oxford Industries from a “neutral” rating to a “sell” rating and cut their price target for the company from $98.00 to $94.00 in a report on Monday. Telsey Advisory Group upped their price target on Oxford Industries from $102.00 to $110.00 and gave the company a “market perform” rating in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $103.60.

Hedge Funds Weigh In On Oxford Industries

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Oxford Industries by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 2,041,686 shares of the textile maker’s stock worth $184,773,000 after buying an additional 104,007 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Oxford Industries by 8.0% in the 1st quarter. Invesco Ltd. now owns 862,286 shares of the textile maker’s stock worth $78,036,000 after buying an additional 64,175 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Oxford Industries by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 735,045 shares of the textile maker’s stock worth $73,507,000 after buying an additional 5,767 shares in the last quarter. State Street Corp raised its holdings in shares of Oxford Industries by 2.4% in the 1st quarter. State Street Corp now owns 534,551 shares of the textile maker’s stock worth $48,377,000 after buying an additional 12,582 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Oxford Industries by 7.9% during the 4th quarter. Wellington Management Group LLP now owns 403,340 shares of the textile maker’s stock worth $40,334,000 after acquiring an additional 29,493 shares during the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

Oxford Industries Stock Performance

The firm has a market capitalization of $1.68 billion, a P/E ratio of 29.40 and a beta of 1.60. The stock has a 50-day moving average of $101.70 and a 200 day moving average of $96.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.63 and a current ratio of 1.37.

Oxford Industries (NYSE:OXM) last released its quarterly earnings results on Thursday, March 28th. The textile maker reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.02). The business had revenue of $404.43 million for the quarter, compared to the consensus estimate of $408.28 million. Oxford Industries had a return on equity of 26.08% and a net margin of 3.86%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $2.28 earnings per share. On average, research analysts anticipate that Oxford Industries, Inc. will post 10.28 earnings per share for the current year.

Oxford Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Oxford Industries’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, April 18th. Oxford Industries’s dividend payout ratio (DPR) is presently 70.46%.

About Oxford Industries

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; 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; and men, women, and kids products under the Southern Tide brand.