Oxford Industries, Inc. (NYSE:OXM) Sees Large Increase in Short Interest

Oxford Industries, Inc. (NYSE:OXM) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,650,000 shares, an increase of 21.6% from the August 15th total of 2,180,000 shares. Currently, 17.5% of the shares of the company are sold short. Based on an average daily volume of 316,000 shares, the days-to-cover ratio is currently 8.4 days.

Analysts Set New Price Targets

OXM has been the topic of several analyst reports. Telsey Advisory Group lowered their target price on Oxford Industries from $110.00 to $86.00 and set a “market perform” rating on the stock in a research report on Thursday. Citigroup cut their price objective 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. Finally, UBS Group decreased their target price on shares of Oxford Industries from $101.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.40.

Hedge Funds Weigh In On Oxford Industries

A number of hedge funds and other institutional investors have recently modified their holdings of OXM. Pacer Advisors Inc. acquired a new position in Oxford Industries in the 2nd quarter worth approximately $54,882,000. Millennium Management LLC boosted its position in shares of Oxford Industries by 254.1% in the second quarter. Millennium Management LLC now owns 266,412 shares of the textile maker’s stock worth $26,681,000 after buying an additional 191,185 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Oxford Industries during the second quarter valued at $10,040,000. Norges Bank acquired a new position in Oxford Industries during the fourth quarter valued at $9,682,000. Finally, Victory Capital Management Inc. lifted its stake in Oxford Industries by 21.7% in the 2nd quarter. Victory Capital Management Inc. now owns 496,092 shares of the textile maker’s stock worth $49,684,000 after acquiring an additional 88,345 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Oxford Industries Price Performance

OXM stock traded up $1.06 during trading hours on Friday, hitting $85.15. 588,347 shares of the stock traded hands, compared to its average volume of 256,043. The stock has a 50-day simple moving average of $92.74 and a 200 day simple moving average of $100.83. The company has a market cap of $1.34 billion, a P/E ratio of 34.47 and a beta of 1.53. The company has a current ratio of 1.32, a quick ratio of 0.68 and a debt-to-equity ratio of 0.03. Oxford Industries has a one year low of $74.95 and a one year high of $113.88.

Oxford Industries (NYSE:OXM) last issued its earnings results on Wednesday, September 11th. The textile maker reported $2.77 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.23). The business had revenue of $419.89 million for the quarter, compared to the consensus estimate of $438.16 million. Oxford Industries had a return on equity of 22.19% and a net margin of 1.92%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.45 earnings per share. Equities analysts forecast that Oxford Industries will post 8.8 earnings per share for the current year.

Oxford Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, October 18th. Oxford Industries’s dividend payout ratio (DPR) is presently 108.50%.

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.