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

Shares of Oxford Industries, Inc. (NYSE:OXM - Get Free Report) gapped down before the market opened on Thursday after Truist Financial lowered their price target on the stock from $56.00 to $47.00. The stock had previously closed at $50.03, but opened at $45.77. Truist Financial currently has a hold rating on the stock. Oxford Industries shares last traded at $45.56, with a volume of 214,904 shares.

OXM has been the topic of several other research reports. Citigroup reduced their price objective on shares of Oxford Industries from $47.00 to $44.00 and set a "sell" rating on the stock in a research note on Thursday. KeyCorp reiterated a "sector weight" rating on shares of Oxford Industries in a research note on Friday, March 28th. Telsey Advisory Group restated a "market perform" rating and issued a $52.00 price target on shares of Oxford Industries in a report on Thursday. Finally, UBS Group increased their price objective on shares of Oxford Industries from $54.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, Oxford Industries currently has an average rating of "Hold" and a consensus target price of $55.80.

Insiders Place Their Bets

In other Oxford Industries news, Director Milford W. Mcguirt acquired 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was acquired at an average cost of $58.70 per share, with a total value of $58,700.00. Following the acquisition, the director now directly owns 7,180 shares of the company's stock, valued at $421,466. This represents a 16.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oxford Industries

Large investors have recently made changes to their positions in the business. Southernsun Asset Management LLC purchased a new position in Oxford Industries in the 4th quarter worth about $20,308,000. Senvest Management LLC acquired a new position in shares of Oxford Industries in the fourth quarter worth about $19,352,000. Millennium Management LLC increased its position in shares of Oxford Industries by 311.9% in the first quarter. Millennium Management LLC now owns 293,384 shares of the textile maker's stock worth $17,213,000 after acquiring an additional 222,150 shares in the last quarter. Global Alpha Capital Management Ltd. acquired a new stake in shares of Oxford Industries during the fourth quarter valued at approximately $16,489,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Oxford Industries by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 849,973 shares of the textile maker's stock valued at $66,958,000 after acquiring an additional 103,253 shares in the last quarter. Institutional investors own 91.16% of the company's stock.

Oxford Industries Trading Down 8.4%

The company's 50-day moving average is $51.85 and its 200 day moving average is $66.40. 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 $586.38 million, a PE ratio of 44.32 and a beta of 1.45.

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

Oxford Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date is Friday, July 18th. Oxford Industries's dividend payout ratio is currently 47.02%.

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; 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.