Truist Financial Corp Lowers Position in Oxford Industries, Inc. (NYSE:OXM)

Truist Financial Corp cut its stake in shares of Oxford Industries, Inc. (NYSE:OXM) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,787 shares of the textile maker’s stock after selling 2,434 shares during the period. Truist Financial Corp owned about 0.92% of Oxford Industries worth $14,500,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Quarry LP raised its holdings in shares of Oxford Industries by 4,650.0% in the second quarter. Quarry LP now owns 475 shares of the textile maker’s stock valued at $48,000 after purchasing an additional 465 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Oxford Industries by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,702 shares of the textile maker’s stock worth $771,000 after purchasing an additional 276 shares in the last quarter. Millennium Management LLC increased its stake in Oxford Industries by 254.1% in the 2nd quarter. Millennium Management LLC now owns 266,412 shares of the textile maker’s stock valued at $26,681,000 after buying an additional 191,185 shares during the last quarter. Maverick Capital Ltd. lifted its position in shares of Oxford Industries by 673.5% during the 2nd quarter. Maverick Capital Ltd. now owns 62,642 shares of the textile maker’s stock worth $6,274,000 after buying an additional 54,544 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Oxford Industries in the 2nd quarter worth approximately $995,000. 91.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Scott Grassmyer sold 1,495 shares of Oxford Industries stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $86.77, for a total transaction of $129,721.15. Following the completion of the sale, the executive vice president now owns 31,428 shares of the company’s stock, valued at approximately $2,727,007.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. UBS Group dropped their price target on Oxford Industries from $101.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. 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 note on Thursday, September 12th. Finally, Citigroup reduced their price target on shares of Oxford Industries from $92.00 to $65.00 and set a “sell” rating for the company in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Oxford Industries presently has an average rating of “Hold” and a consensus price target of $90.40.

Oxford Industries Stock Performance

Shares of Oxford Industries stock opened at $76.72 on Friday. The stock has a market capitalization of $1.20 billion, a P/E ratio of 31.06 and a beta of 1.53. Oxford Industries, Inc. has a 52-week low of $74.95 and a 52-week high of $113.88. The stock’s 50-day simple moving average is $88.55 and its 200 day simple moving average is $99.07.

Oxford Industries (NYSE:OXM) last announced its quarterly earnings results on Wednesday, September 11th. The textile maker reported $2.77 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.23). Oxford Industries had a net margin of 1.92% and a return on equity of 21.93%. The business had revenue of $419.89 million for the quarter, compared to analysts’ expectations of $438.16 million. During the same quarter in the previous year, the company posted $3.45 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that Oxford Industries, Inc. will post 7.15 EPS for the current fiscal year.

Oxford Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.67 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.49%. Oxford Industries’s dividend payout ratio (DPR) is currently 108.50%.

Oxford Industries 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.