First Midwest Bank Trust Division raised its stake in shares of Movado Group Inc. (NYSE:MOV) by 46.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,066 shares of the company’s stock after buying an additional 4,801 shares during the period. First Midwest Bank Trust Division’s holdings in Movado Group were worth $327,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of Movado Group by 85.2% in the second quarter. BNP Paribas Arbitrage SA now owns 5,923 shares of the company’s stock valued at $128,000 after buying an additional 2,725 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Movado Group during the first quarter valued at about $146,000. Arizona State Retirement System increased its stake in shares of Movado Group by 2.5% in the first quarter. Arizona State Retirement System now owns 8,323 shares of the company’s stock valued at $229,000 after buying an additional 200 shares in the last quarter. Smith Asset Management Group LP increased its stake in shares of Movado Group by 69.1% in the second quarter. Smith Asset Management Group LP now owns 12,240 shares of the company’s stock valued at $265,000 after buying an additional 5,000 shares in the last quarter. Finally, AMP Capital Investors Ltd increased its stake in shares of Movado Group by 29.0% in the first quarter. AMP Capital Investors Ltd now owns 11,130 shares of the company’s stock valued at $338,000 after buying an additional 2,500 shares in the last quarter. 66.28% of the stock is owned by institutional investors and hedge funds.
Movado Group Inc. (NYSE:MOV) traded down 1.67% during midday trading on Friday, hitting $21.79. The stock had a trading volume of 84,091 shares. The company has a 50-day moving average price of $22.10 and a 200-day moving average price of $23.70. Movado Group Inc. has a 52 week low of $19.14 and a 52 week high of $30.98. The stock has a market cap of $500.08 million, a P/E ratio of 13.02 and a beta of 0.89.
Movado Group (NYSE:MOV) last issued its earnings results on Thursday, August 25th. The company reported $0.27 earnings per share 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 analyst estimates of $135.92 million. During the same period in the previous year, the company earned $0.50 earnings per share. Movado Group’s revenue for the quarter was down 12.0% compared to the same quarter last year. Equities analysts expect that Movado Group Inc. will post $1.46 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Tuesday, September 6th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.52 annualized dividend and a yield of 2.39%. Movado Group’s dividend payout ratio (DPR) is currently 31.14%.
Several equities research analysts have issued reports on the company. Cowen and Company reaffirmed a “market perform” rating and set a $24.00 price target on shares of Movado Group in a report on Monday, September 12th. Zacks Investment Research raised Movado Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target 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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