Oxford Industries (NYSE:OXM) Issues Quarterly Earnings Results

Key Points

• Oxford Industries reported quarterly EPS of $1.34, beating analysts’ consensus estimate of $1.31 by $0.03. However, the company posted a negative net margin of 2.65%.
• Shares fell to $36.59 in mid-day trading, while analysts maintained a largely cautious outlook: seven rated the stock “Hold” and one rated it “Sell,” with a consensus price target of $40.
• The company declared a quarterly dividend of $0.70 per share, equivalent to an annualized $2.80 payout and a 7.7% yield; CEO Thomas Caldecot Chubb III also purchased 2,500 shares.

Oxford Industries (NYSE:OXM - Get Free Report) announced its quarterly earnings data on Thursday. The textile maker reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.03, Zacks reports. Oxford Industries had a positive return on equity of 4.55% and a negative net margin of 2.65%.

Oxford Industries Price Performance

OXM stock traded down $1.15 during mid-day trading on Thursday, reaching $36.59. 462,869 shares of the company's stock were exchanged, compared to its average volume of 369,035. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.17 and a quick ratio of 0.60. Oxford Industries has a 12-month low of $30.57 and a 12-month high of $51.61. The stock's 50 day moving average is $37.37 and its 200 day moving average is $39.23. The company has a market cap of $546.33 million, a price-to-earnings ratio of -13.86 and a beta of 1.06.

Oxford Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were given a dividend of $0.70 per share. The ex-dividend date was Friday, July 17th. This represents a $2.80 dividend on an annualized basis and a yield of 7.7%. Oxford Industries's dividend payout ratio is currently -106.06%.

Analyst Ratings Changes

Several brokerages recently weighed in on OXM. Weiss Ratings reiterated a "sell (d+)" rating on shares of Oxford Industries in a report on Wednesday, July 8th. Zacks Research upgraded shares of Oxford Industries from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 26th. Citigroup upped their price target on shares of Oxford Industries from $34.00 to $36.00 and gave the company a "neutral" rating in a report on Tuesday, June 16th. Truist Financial lowered their target price on Oxford Industries from $43.00 to $40.00 and set a "hold" rating on the stock in a research note on Thursday, June 11th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Oxford Industries in a report on Wednesday, August 26th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $40.00.

Insider Buying and Selling at Oxford Industries

In other Oxford Industries news, CEO Thomas Caldecot Chubb III bought 2,500 shares of Oxford Industries stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $36.90 per share, with a total value of $92,250.00. Following the purchase, the chief executive officer directly owned 30,200 shares in the company, valued at $1,114,380. This represents a 9.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 6.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oxford Industries

Large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in shares of Oxford Industries by 55.4% in the fourth quarter. Invesco Ltd. now owns 170,070 shares of the textile maker's stock valued at $5,816,000 after purchasing an additional 60,618 shares during the period. XTX Topco Ltd lifted its stake in Oxford Industries by 130.3% in the 4th quarter. XTX Topco Ltd now owns 48,730 shares of the textile maker's stock valued at $1,667,000 after buying an additional 27,569 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Oxford Industries by 19.2% in the 4th quarter. Wellington Management Group LLP now owns 292,956 shares of the textile maker's stock worth $10,019,000 after buying an additional 47,274 shares during the last quarter. SummitTX Capital L.P. increased its stake in Oxford Industries by 52.6% during the 4th quarter. SummitTX Capital L.P. now owns 8,440 shares of the textile maker's stock worth $289,000 after buying an additional 2,908 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Oxford Industries during the fourth quarter valued at approximately $203,000. 91.16% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source