California State Teachers Retirement System cut its position in shares of Movado Group Inc. (NYSE:MOV) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,266 shares of the company’s stock after selling 1,687 shares during the period. California State Teachers Retirement System owned about 0.14% of Movado Group worth $700,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of MOV. BNP Paribas Arbitrage SA raised its position in Movado Group by 85.2% in the second quarter. BNP Paribas Arbitrage SA now owns 5,923 shares of the company’s stock worth $128,000 after buying an additional 2,725 shares during the last quarter. Acrospire Investment Management LLC bought a new position in Movado Group during the first quarter worth about $146,000. Arizona State Retirement System raised its position in Movado Group by 2.5% in the first quarter. Arizona State Retirement System now owns 8,323 shares of the company’s stock worth $229,000 after buying an additional 200 shares during the last quarter. Smith Asset Management Group LP raised its position in Movado Group by 69.1% in the second quarter. Smith Asset Management Group LP now owns 12,240 shares of the company’s stock worth $265,000 after buying an additional 5,000 shares during the last quarter. Finally, First Midwest Bank Trust Division raised its position in Movado Group by 46.8% in the second quarter. First Midwest Bank Trust Division now owns 15,066 shares of the company’s stock worth $327,000 after buying an additional 4,801 shares during the last quarter. Institutional investors own 66.28% of the company’s stock.
Shares of Movado Group Inc. (NYSE:MOV) traded down 1.26% on Monday, reaching $21.21. The company had a trading volume of 48,905 shares. The stock has a 50 day moving average price of $22.40 and a 200-day moving average price of $23.99. The company has a market capitalization of $486.77 million, a price-to-earnings ratio of 12.68 and a beta of 0.89. Movado Group Inc. has a 12 month low of $19.14 and a 12 month high of $30.98.
Movado Group (NYSE:MOV) last released its earnings results on Thursday, August 25th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.04. Movado Group had a return on equity of 9.15% and a net margin of 6.84%. The firm had revenue of $128.10 million for the quarter, compared to the consensus estimate of $135.92 million. During the same period in the prior year, the business earned $0.50 EPS. The company’s quarterly revenue was down 12.0% on a year-over-year basis. Analysts forecast that Movado Group Inc. will post $1.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Tuesday, September 6th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, September 1st. Movado Group’s dividend payout ratio is presently 31.14%.
A number of research analysts have recently issued reports on MOV shares. Cowen and Company reissued a “market perform” rating and issued a $24.00 target price on shares of Movado Group in a report on Friday, August 26th. Zacks Investment Research lowered Movado Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Movado Group has a consensus rating of “Hold” and a consensus target price of $29.00.
Movado Group Company Profile
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains, department stores and independent jewelers.
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