Movado Group, Inc. (NYSE:MOV) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,129 shares of the company’s stock after selling 1,097 shares during the period. Los Angeles Capital Management LLC owned approximately 0.25% of Movado Group worth $1,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MOV. SG Americas Securities LLC acquired a new stake in shares of Movado Group during the third quarter worth $244,000. Congress Wealth Management LLC DE acquired a new stake in Movado Group in the third quarter valued at approximately $274,000. Teacher Retirement System of Texas increased its position in shares of Movado Group by 6.7% in the third quarter. Teacher Retirement System of Texas now owns 27,748 shares of the company’s stock valued at $759,000 after buying an additional 1,745 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Movado Group by 55.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 105,968 shares of the company’s stock valued at $2,898,000 after buying an additional 37,914 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in Movado Group during the third quarter worth about $248,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Stock Down 1.4 %

NYSE MOV opened at $26.05 on Wednesday. The business’s fifty day simple moving average is $26.73 and its 200-day simple moving average is $27.96. The firm has a market cap of $576.49 million, a PE ratio of 12.65 and a beta of 1.14. Movado Group, Inc. has a 52 week low of $23.94 and a 52 week high of $31.44.

Movado Group (NYSE:MOV) last posted its earnings results on Tuesday, March 26th. The company reported $0.55 earnings per share for the quarter. The company had revenue of $179.62 million for the quarter. Movado Group had a net margin of 6.94% and a return on equity of 9.56%. Research analysts expect that Movado Group, Inc. will post 1.25 EPS for the current year.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend was Monday, April 8th. Movado Group’s dividend payout ratio is presently 67.96%.

Wall Street Analyst Weigh In

Separately, Benchmark restated a “buy” rating and set a $41.00 target price on shares of Movado Group in a report on Wednesday, March 27th.

Movado Group Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.