Oxford Industries, Inc. (NYSE:OXM) Announces $0.69 Quarterly Dividend

Oxford Industries, Inc. (NYSE:OXM - Get Free Report) announced a quarterly dividend on Thursday, June 12th, Wall Street Journal reports. Shareholders of record on Friday, July 18th will be paid a dividend of 0.69 per share by the textile maker on Friday, August 1st. This represents a $2.76 annualized dividend and a yield of 7.00%. The ex-dividend date is Friday, July 18th.

Oxford Industries has a payout ratio of 59.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Oxford Industries to earn $7.20 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 38.3%.

Oxford Industries Trading Down 8.4%

Shares of NYSE OXM traded down $3.62 during midday trading on Friday, reaching $39.45. 1,059,833 shares of the stock were exchanged, compared to its average volume of 384,580. Oxford Industries has a 12 month low of $39.28 and a 12 month high of $108.51. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.42 and a quick ratio of 0.71. The business has a 50-day simple moving average of $51.72 and a two-hundred day simple moving average of $66.00. The company has a market capitalization of $586.38 million, a price-to-earnings ratio of 44.32 and a beta of 1.45.

Oxford Industries (NYSE:OXM - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The textile maker reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. Oxford Industries had a net margin of 0.98% and a return on equity of 19.09%. The firm had revenue of $392.86 million for the quarter, compared to analyst estimates of $383.54 million. During the same period in the previous year, the business earned $2.66 EPS. The company's revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Oxford Industries will post 6.62 EPS for the current year.

Insider Buying and Selling

In other Oxford Industries news, Director Milford W. Mcguirt acquired 1,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were purchased at an average price of $58.70 per share, for a total transaction of $58,700.00. Following the completion of the acquisition, the director now owns 7,180 shares in the company, valued at approximately $421,466. This represents a 16.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its position in Oxford Industries by 311.9% during the first quarter. Millennium Management LLC now owns 293,384 shares of the textile maker's stock worth $17,213,000 after purchasing an additional 222,150 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Oxford Industries by 22.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,906 shares of the textile maker's stock worth $1,755,000 after acquiring an additional 5,577 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Oxford Industries by 33.9% in the first quarter. AQR Capital Management LLC now owns 6,495 shares of the textile maker's stock worth $381,000 after buying an additional 1,643 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Oxford Industries by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,817 shares of the textile maker's stock worth $517,000 after buying an additional 387 shares during the period. Institutional investors and hedge funds own 91.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OXM. UBS Group lifted their price objective on shares of Oxford Industries from $54.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, June 5th. Citigroup dropped their price objective on shares of Oxford Industries from $47.00 to $44.00 and set a "sell" rating for the company in a research note on Thursday. Telsey Advisory Group restated a "market perform" rating and issued a $52.00 target price on shares of Oxford Industries in a research report on Thursday. Truist Financial dropped their target price on shares of Oxford Industries from $56.00 to $47.00 and set a "hold" rating for the company in a research report on Thursday. Finally, KeyCorp reiterated a "sector weight" rating on shares of Oxford Industries in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, Oxford Industries presently has an average rating of "Hold" and an average price target of $55.80.

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.