Lazard Asset Management LLC Acquires 2,329 Shares of Movado Group, Inc. (NYSE:MOV)

Lazard Asset Management LLC lifted its holdings in shares of Movado Group, Inc. (NYSE:MOVGet Rating) by 66.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,855 shares of the company’s stock after purchasing an additional 2,329 shares during the quarter. Lazard Asset Management LLC’s holdings in Movado Group were worth $181,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MOV. First Horizon Advisors Inc. bought a new position in shares of Movado Group during the second quarter worth approximately $40,000. Captrust Financial Advisors increased its holdings in shares of Movado Group by 89.5% during the first quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock worth $42,000 after purchasing an additional 511 shares during the period. KBC Group NV bought a new position in shares of Movado Group during the second quarter worth approximately $43,000. Quantbot Technologies LP boosted its position in shares of Movado Group by 153.3% during the 1st quarter. Quantbot Technologies LP now owns 2,839 shares of the company’s stock worth $110,000 after acquiring an additional 1,718 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Movado Group during the 1st quarter worth approximately $201,000. 67.26% of the stock is owned by institutional investors.

Movado Group Trading Up 1.1 %

NYSE MOV opened at $34.75 on Monday. The firm has a market capitalization of $778.89 million, a price-to-earnings ratio of 7.72 and a beta of 1.20. The firm’s 50 day simple moving average is $31.54 and its 200 day simple moving average is $32.84. Movado Group, Inc. has a 1 year low of $27.72 and a 1 year high of $48.66.

Movado Group (NYSE:MOVGet Rating) last issued its earnings results on Thursday, August 25th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.36. Movado Group had a net margin of 13.68% and a return on equity of 22.90%. The firm had revenue of $182.80 million for the quarter. On average, equities research analysts forecast that Movado Group, Inc. will post 4.23 earnings per share for the current year.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $1.40 dividend on an annualized basis and a yield of 4.03%. Movado Group’s dividend payout ratio is currently 31.11%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Movado Group in a research report on Wednesday, October 12th. They set a “buy” rating on the stock.

Movado Group Profile

(Get Rating)

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

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

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