Oxford Industries (NYSE:OXM) Trading Up 4.3% After Dividend Announcement

Oxford Industries, Inc. (NYSE:OXM) shares shot up 4.3% on Friday following a dividend announcement from the company. The stock traded as high as $80.34 and last traded at $80.17. 101,146 shares were traded during mid-day trading, a decline of 64% from the average session volume of 282,390 shares. The stock had previously closed at $76.87.

The newly announced dividend which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.67 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.68 annualized dividend and a dividend yield of 3.32%. Oxford Industries’s payout ratio is 301.13%.

Wall Street Analysts Forecast Growth

OXM has been the topic of several analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $86.00 price target on shares of Oxford Industries in a report on Wednesday, December 4th. Citigroup dropped their price target on Oxford Industries from $92.00 to $65.00 and set a “sell” rating on the stock in a report on Friday, September 13th. Finally, UBS Group reduced their price objective on Oxford Industries from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday.

Oxford Industries Price Performance

The firm has a fifty day simple moving average of $77.79 and a two-hundred day simple moving average of $88.82. The firm has a market capitalization of $1.27 billion, a P/E ratio of 86.37 and a beta of 1.56.

Oxford Industries (NYSE:OXM) last released its quarterly earnings data on Wednesday, December 11th. The textile maker reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The business had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $316.84 million. Oxford Industries had a net margin of 0.98% and a return on equity of 19.26%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, research analysts anticipate that Oxford Industries, Inc. will post 7.16 EPS for the current year.

Insiders Place Their Bets

In other Oxford Industries news, EVP Scott Grassmyer sold 1,495 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $86.77, for a total value of $129,721.15. Following the sale, the executive vice president now directly owns 31,428 shares in the company, valued at $2,727,007.56. This represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oxford Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 1620 Investment Advisors Inc. bought a new stake in shares of Oxford Industries during the 2nd quarter worth $28,000. Quarry LP raised its position in Oxford Industries by 4,650.0% during the second quarter. Quarry LP now owns 475 shares of the textile maker’s stock valued at $48,000 after purchasing an additional 465 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Oxford Industries by 223.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,568 shares of the textile maker’s stock worth $136,000 after purchasing an additional 1,083 shares in the last quarter. M&T Bank Corp bought a new position in shares of Oxford Industries during the 3rd quarter valued at about $206,000. Finally, Verity Asset Management Inc. bought a new stake in Oxford Industries in the 3rd quarter worth approximately $233,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

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.