Pinnacle Associates Ltd. Raises Stock Position in Oxford Industries, Inc. $OXM

Pinnacle Associates Ltd. boosted its position in shares of Oxford Industries, Inc. (NYSE:OXM) by 92.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,291 shares of the textile maker’s stock after acquiring an additional 78,249 shares during the period. Pinnacle Associates Ltd. owned 1.10% of Oxford Industries worth $5,585,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its stake in Oxford Industries by 245.9% during the third quarter. Hantz Financial Services Inc. now owns 671 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 477 shares in the last quarter. CWM LLC grew its stake in Oxford Industries by 61.5% during the third quarter. CWM LLC now owns 801 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 305 shares in the last quarter. GAMMA Investing LLC grew its stake in Oxford Industries by 46.6% during the fourth quarter. GAMMA Investing LLC now owns 925 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 294 shares in the last quarter. Quarry LP purchased a new position in Oxford Industries during the third quarter valued at approximately $38,000. Finally, Signaturefd LLC grew its stake in Oxford Industries by 28.1% during the fourth quarter. Signaturefd LLC now owns 1,368 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Wall Street Analyst Weigh In

OXM has been the subject of several recent analyst reports. Wall Street Zen cut shares of Oxford Industries from a “hold” rating to a “sell” rating in a research note on Sunday, April 5th. Zacks Research cut shares of Oxford Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. Telsey Advisory Group lifted their target price on shares of Oxford Industries from $36.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, April 22nd. Truist Financial cut their price target on shares of Oxford Industries from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Friday, March 27th. Finally, Citigroup boosted their price target on shares of Oxford Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, March 30th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $38.00.

Oxford Industries Price Performance

OXM stock opened at $39.48 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.48. Oxford Industries, Inc. has a one year low of $30.57 and a one year high of $57.55. The stock has a market cap of $587.74 million, a PE ratio of -20.35 and a beta of 1.03. The firm has a 50 day simple moving average of $40.16 and a two-hundred day simple moving average of $38.45.

Oxford Industries (NYSE:OXM) last released its quarterly earnings results on Thursday, March 26th. The textile maker reported ($0.09) EPS 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 during the quarter, compared to analysts’ expectations of $372.30 million. During the same period in the prior year, the firm earned $1.37 EPS. Oxford Industries’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts predict that Oxford Industries, Inc. will post 2.51 EPS for the current fiscal year.

Oxford Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 17th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date was Friday, April 17th. This is a positive change from Oxford Industries’s previous quarterly dividend of $0.69. Oxford Industries’s dividend payout ratio (DPR) is presently -144.33%.

Oxford Industries Profile

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.