JPMorgan Chase & Co. Sells 28,481 Shares of Movado Group, Inc (MOV)

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JPMorgan Chase & Co. lessened its stake in shares of Movado Group, Inc (NYSE:MOV) by 4.1% during the third quarter, HoldingsChannel reports. The firm owned 659,779 shares of the company’s stock after selling 28,481 shares during the period. JPMorgan Chase & Co.’s holdings in Movado Group were worth $27,645,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Northern Trust Corp grew its holdings in Movado Group by 1.3% in the 2nd quarter. Northern Trust Corp now owns 468,268 shares of the company’s stock worth $22,617,000 after buying an additional 6,202 shares in the last quarter. United Services Automobile Association bought a new position in Movado Group during the 2nd quarter valued at $279,000. Dalton Greiner Hartman Maher & Co. bought a new position in Movado Group during the 3rd quarter valued at $3,100,000. North Star Investment Management Corp. boosted its stake in Movado Group by 2.8% during the 3rd quarter. North Star Investment Management Corp. now owns 74,350 shares of the company’s stock valued at $3,115,000 after purchasing an additional 2,000 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new position in Movado Group during the 3rd quarter valued at $2,197,000. Institutional investors own 69.62% of the company’s stock.

Shares of NYSE:MOV opened at $31.11 on Thursday. Movado Group, Inc has a one year low of $28.76 and a one year high of $53.72. The firm has a market cap of $747.35 million, a PE ratio of 12.84 and a beta of 0.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.53 and a quick ratio of 2.19.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Tuesday, December 4th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. The company had revenue of $208.90 million during the quarter, compared to the consensus estimate of $205.40 million. Movado Group had a return on equity of 12.64% and a net margin of 1.63%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 EPS. On average, equities research analysts expect that Movado Group, Inc will post 2.54 EPS for the current year.

Separately, Zacks Investment Research lowered Movado Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th.

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Movado Group Profile

Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.

See Also: Growth Stocks

Want to see what other hedge funds are holding MOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Movado Group, Inc (NYSE:MOV).

Institutional Ownership by Quarter for Movado Group (NYSE:MOV)

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