Oxford Industries (NYSE:OXM) Shares Gap Down on Disappointing Earnings

Oxford Industries, Inc. (NYSE:OXM)’s share price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $84.11, but opened at $78.00. Oxford Industries shares last traded at $78.59, with a volume of 260,326 shares.

The textile maker reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Oxford Industries had a net margin of 0.98% and a return on equity of 19.26%. The firm had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $316.84 million. During the same period in the prior year, the company posted $1.01 earnings per share. Oxford Industries’s quarterly revenue was down 5.7% compared to the same quarter last year.

Oxford Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, January 17th. Oxford Industries’s dividend payout ratio is 301.13%.

Analysts Set New Price Targets

Several analysts have issued reports on OXM shares. Citigroup cut their target price on shares of Oxford Industries from $92.00 to $65.00 and set a “sell” rating on the stock in a research note on Friday, September 13th. UBS Group dropped their price target on Oxford Industries from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $86.00 price objective on shares of Oxford Industries in a research note on Wednesday, December 4th.

Insider Buying and Selling at Oxford Industries

In other news, EVP Scott Grassmyer sold 1,495 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $86.77, for a total transaction of $129,721.15. Following the completion of the sale, the executive vice president now directly owns 31,428 shares of the company’s stock, valued at $2,727,007.56. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Oxford Industries

Several large investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in Oxford Industries by 238.9% in the second quarter. SG Americas Securities LLC now owns 4,121 shares of the textile maker’s stock valued at $413,000 after acquiring an additional 2,905 shares during the last quarter. Blue Trust Inc. boosted its holdings in Oxford Industries by 4,633.0% in the second quarter. Blue Trust Inc. now owns 4,591 shares of the textile maker’s stock worth $460,000 after purchasing an additional 4,494 shares in the last quarter. Leeward Investments LLC MA increased its position in Oxford Industries by 5.6% during the second quarter. Leeward Investments LLC MA now owns 61,706 shares of the textile maker’s stock worth $6,180,000 after buying an additional 3,277 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Oxford Industries during the second quarter worth $28,000. Finally, Precedent Wealth Partners LLC raised its holdings in Oxford Industries by 33.0% during the second quarter. Precedent Wealth Partners LLC now owns 4,445 shares of the textile maker’s stock valued at $445,000 after buying an additional 1,103 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

Oxford Industries Stock Performance

The company has a market cap of $1.28 billion, a P/E ratio of 91.56 and a beta of 1.56. The firm has a 50 day moving average price of $77.89 and a 200-day moving average price of $88.65.

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.