Oxford Industries, Inc. (NYSE:OXM) Increases Dividend to $0.67 Per Share

Oxford Industries, Inc. (NYSE:OXM) declared a quarterly dividend on Thursday, March 28th, Wall Street Journal reports. Investors of record on Friday, April 19th will be given a dividend of 0.67 per share by the textile maker on Friday, May 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Thursday, April 18th. This is an increase from Oxford Industries’s previous quarterly dividend of $0.65.

Oxford Industries has increased its dividend by an average of 30.7% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Oxford Industries has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Oxford Industries to earn $10.38 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 25.8%.

Oxford Industries Trading Up 0.5 %

NYSE:OXM opened at $103.01 on Wednesday. Oxford Industries has a 12-month low of $82.33 and a 12-month high of $113.88. The company has a current ratio of 1.22, a quick ratio of 0.55 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.61 billion, a PE ratio of 27.91 and a beta of 1.60. The stock has a fifty day moving average price of $104.02 and a 200 day moving average price of $97.70.

Oxford Industries (NYSE:OXM) last posted its quarterly earnings results on Thursday, March 28th. The textile maker reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.02). Oxford Industries had a net margin of 3.86% and a return on equity of 26.71%. The business had revenue of $404.43 million during the quarter, compared to analyst estimates of $408.28 million. During the same quarter in the prior year, the business earned $2.28 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts anticipate that Oxford Industries will post 9.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OXM has been the topic of a number of research analyst reports. Citigroup cut Oxford Industries from a “neutral” rating to a “sell” rating and cut their target price for the stock from $98.00 to $94.00 in a research report on Monday, April 1st. Telsey Advisory Group lifted their target price on Oxford Industries from $102.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, April 1st. Finally, UBS Group cut their target price on Oxford Industries from $106.00 to $104.00 and set a “neutral” rating on the stock in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Oxford Industries has a consensus rating of “Hold” and an average target price of $103.60.

Insider Buying and Selling

In related news, CEO Douglas B. Wood sold 33,587 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $104.95, for a total transaction of $3,524,955.65. Following the transaction, the chief executive officer now owns 12,394 shares of the company’s stock, valued at $1,300,750.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Oxford Industries

A number of institutional investors have recently added to or reduced their stakes in OXM. Envestnet Asset Management Inc. boosted its holdings in Oxford Industries by 2,350.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 318,505 shares of the textile maker’s stock valued at $1,067,000 after purchasing an additional 305,508 shares in the last quarter. Norges Bank purchased a new stake in Oxford Industries in the 4th quarter valued at approximately $14,156,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Oxford Industries in the 1st quarter valued at approximately $10,185,000. Vanguard Group Inc. boosted its holdings in Oxford Industries by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 2,041,686 shares of the textile maker’s stock valued at $184,773,000 after purchasing an additional 104,007 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Oxford Industries by 391.2% in the 2nd quarter. Renaissance Technologies LLC now owns 111,021 shares of the textile maker’s stock valued at $9,852,000 after purchasing an additional 88,421 shares in the last quarter. 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; 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; and men, women, and kids products under the Southern Tide brand.