26,244 Shares in Movado Group Inc. $MOV Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in shares of Movado Group Inc. (NYSE:MOV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 26,244 shares of the company’s stock, valued at approximately $1,032,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Allworth Financial LP bought a new position in shares of Movado Group during the 2nd quarter valued at approximately $27,000. PNC Financial Services Group Inc. boosted its stake in Movado Group by 39.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock worth $33,000 after buying an additional 449 shares during the period. Fifth Third Bancorp boosted its stake in Movado Group by 16,040.0% during the first quarter. Fifth Third Bancorp now owns 1,614 shares of the company’s stock worth $39,000 after buying an additional 1,604 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Movado Group by 70.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock valued at $36,000 after acquiring an additional 724 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Movado Group by 99.0% in the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after acquiring an additional 888 shares during the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Stock Performance

MOV stock opened at $33.06 on Wednesday. The firm has a 50-day simple moving average of $36.62 and a two-hundred day simple moving average of $31.73. Movado Group Inc. has a one year low of $17.24 and a one year high of $40.50. The firm has a market cap of $737.66 million, a price-to-earnings ratio of 18.37 and a beta of 0.92.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.35 by $0.19. The firm had revenue of $169.75 million during the quarter, compared to analyst estimates of $164.20 million. Movado Group had a net margin of 6.00% and a return on equity of 8.49%. As a group, equities analysts predict that Movado Group Inc. will post 1.94 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, September 8th. Movado Group’s dividend payout ratio is currently 88.89%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MOV shares. BWS Financial reissued a “buy” rating and issued a $45.00 price objective on shares of Movado Group in a research report on Tuesday, September 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Movado Group in a research report on Tuesday, August 25th. Zacks Research upgraded Movado Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Northland Securities set a $35.00 target price on shares of Movado Group in a research note on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of Movado Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Movado Group has an average rating of “Buy” and a consensus price target of $40.00.

Movado Group Profile

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.