Oxford Industries, Inc. (NYSE:OXM – Get Rating) announced a quarterly dividend on Thursday, June 9th, Wall Street Journal reports. Investors of record on Friday, July 15th will be paid a dividend of 0.55 per share by the textile maker on Friday, July 29th. This represents a $2.20 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, July 14th.
Oxford Industries has increased its dividend by an average of 6.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Oxford Industries has a dividend payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Oxford Industries to earn $9.52 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 23.1%.
NYSE OXM traded up $4.56 during mid-day trading on Thursday, reaching $96.44. 512,672 shares of the company’s stock traded hands, compared to its average volume of 195,315. Oxford Industries has a 1-year low of $76.21 and a 1-year high of $114.47. The company has a fifty day simple moving average of $89.43 and a 200-day simple moving average of $91.01. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 12.39 and a beta of 1.61.
Oxford Industries (NYSE:OXM – Get Rating) last issued its quarterly earnings data on Wednesday, June 8th. The textile maker reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.72. The firm had revenue of $352.58 million during the quarter, compared to analyst estimates of $329.03 million. Oxford Industries had a return on equity of 28.33% and a net margin of 11.50%. Oxford Industries’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 EPS. Equities analysts expect that Oxford Industries will post 9.04 earnings per share for the current year.
What’s the highest-yielding stock you’ve ever owned? The dividends for these stocks have risen so fast over the years that they’re now yielding us an average of 26%!
When you start getting paid 26% on your money, your financial problems tend to pretty much evaporate.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Oxford Industries by 0.8% in the 4th quarter. BlackRock Inc. now owns 2,637,975 shares of the textile maker’s stock worth $267,808,000 after buying an additional 20,837 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Oxford Industries by 5.4% during the first quarter. Vanguard Group Inc. now owns 2,041,686 shares of the textile maker’s stock worth $184,773,000 after purchasing an additional 104,007 shares during the period. Invesco Ltd. raised its position in shares of Oxford Industries by 8.0% during the first quarter. Invesco Ltd. now owns 862,286 shares of the textile maker’s stock worth $78,036,000 after purchasing an additional 64,175 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Oxford Industries by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 659,720 shares of the textile maker’s stock worth $59,705,000 after purchasing an additional 11,106 shares during the period. Finally, State Street Corp raised its position in shares of Oxford Industries by 2.4% during the first quarter. State Street Corp now owns 534,551 shares of the textile maker’s stock worth $48,377,000 after purchasing an additional 12,582 shares during the period. 87.97% of the stock is currently owned by institutional investors.
OXM has been the subject of several research reports. Truist Financial assumed coverage on Oxford Industries in a research report on Thursday, April 7th. They issued a “buy” rating and a $126.00 target price for the company. StockNews.com downgraded Oxford Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 7th. Zacks Investment Research downgraded Oxford Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. Finally, Citigroup lifted their target price on Oxford Industries from $86.00 to $92.00 and gave the company a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Oxford Industries has an average rating of “Hold” and a consensus price target of $116.14.
About Oxford Industries (Get Rating)
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 footwear and children’s apparel and swimwear under the Lilly Pulitzer brand; and men’s shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.
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