North Star Investment Management Corp. Has $3.20 Million Stock Holdings in Movado Group Inc. $MOV

North Star Investment Management Corp. raised its holdings in Movado Group Inc. (NYSE:MOV) by 39.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,025 shares of the company’s stock after buying an additional 37,000 shares during the period. North Star Investment Management Corp. owned about 0.59% of Movado Group worth $3,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Movado Group by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,029,220 shares of the company’s stock worth $19,524,000 after acquiring an additional 57,353 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Movado Group by 3.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 888,244 shares of the company’s stock valued at $18,316,000 after purchasing an additional 29,137 shares during the last quarter. Brandes Investment Partners LP increased its holdings in Movado Group by 5.6% during the 4th quarter. Brandes Investment Partners LP now owns 704,036 shares of the company’s stock worth $14,517,000 after purchasing an additional 37,587 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Movado Group by 14.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock worth $9,712,000 after purchasing an additional 80,109 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Movado Group by 19.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 388,418 shares of the company’s stock worth $8,009,000 after purchasing an additional 62,278 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Stock Down 0.5%

MOV stock opened at $39.37 on Monday. The firm has a market cap of $869.29 million, a PE ratio of 28.12 and a beta of 0.97. The business has a 50 day moving average of $32.19 and a 200-day moving average of $26.50. Movado Group Inc. has a 12-month low of $14.78 and a 12-month high of $39.63.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. Movado Group had a return on equity of 7.13% and a net margin of 4.70%.The business had revenue of $142.40 million for the quarter, compared to analyst estimates of $135.12 million. During the same period last year, the company posted $0.06 earnings per share. On average, research analysts expect that Movado Group Inc. will post 1.83 earnings per share for the current year.

Movado Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were issued a $0.40 dividend. This is an increase from Movado Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.1%. Movado Group’s payout ratio is presently 114.29%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MOV. Northland Securities set a $35.00 target price on Movado Group in a research report on Wednesday, May 27th. Zacks Research upgraded Movado Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. BWS Financial lifted their price objective on shares of Movado Group from $31.50 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Weiss Ratings downgraded shares of Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $40.00.

About Movado Group

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.