Oxford Industries (NYSE:OXM) Given New $34.00 Price Target at Citigroup

Oxford Industries (NYSE:OXM) had its price objective hoisted by Citigroup from $33.00 to $34.00 in a research note released on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the textile maker’s stock.

Several other brokerages also recently issued reports on OXM. UBS Group cut their price target on Oxford Industries from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Zacks Research upgraded Oxford Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Truist Financial dropped their target price on Oxford Industries from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Friday. Telsey Advisory Group cut their target price on Oxford Industries from $40.00 to $36.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, KeyCorp reissued a “sector weight” rating on shares of Oxford Industries in a report on Thursday, December 11th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $34.25.

Oxford Industries Stock Up 4.3%

Shares of NYSE OXM opened at $36.15 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.48 and a current ratio of 1.10. Oxford Industries has a 1 year low of $30.57 and a 1 year high of $61.02. The stock’s 50-day simple moving average is $37.59 and its 200-day simple moving average is $38.02. The firm has a market cap of $537.96 million, a price-to-earnings ratio of -18.64 and a beta of 1.05.

Oxford Industries (NYSE:OXM) last released its quarterly earnings results on Thursday, March 26th. The textile maker reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). Oxford Industries had a positive return on equity of 5.68% and a negative net margin of 1.89%.The company had revenue of $374.49 million for the quarter, compared to analyst estimates of $372.30 million. During the same period in the previous year, the business posted $1.37 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Oxford Industries will post 6.62 earnings per share for the current fiscal year.

Oxford Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 7.7%. This is a positive change from Oxford Industries’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, April 17th. Oxford Industries’s payout ratio is currently -142.27%.

Institutional Trading of Oxford Industries

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

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.