LSV Asset Management Lowers Position in Movado Group, Inc. (NYSE:MOV)

LSV Asset Management decreased its position in Movado Group, Inc. (NYSE:MOV) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,000 shares of the company’s stock after selling 8,500 shares during the quarter. LSV Asset Management owned approximately 0.76% of Movado Group worth $5,035,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Movado Group by 50.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,535 shares of the company’s stock valued at $137,000 after acquiring an additional 1,529 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Movado Group during the fourth quarter worth about $205,000. Louisiana State Employees Retirement System bought a new position in shares of Movado Group in the fourth quarter worth approximately $235,000. Vest Financial LLC purchased a new stake in Movado Group in the fourth quarter valued at approximately $236,000. Finally, SG Americas Securities LLC bought a new stake in Movado Group during the third quarter valued at approximately $244,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Movado Group Trading Up 1.0 %

MOV opened at $26.31 on Thursday. Movado Group, Inc. has a 12 month low of $23.94 and a 12 month high of $31.44. The company has a market cap of $582.24 million, a P/E ratio of 12.77 and a beta of 1.14. The business’s 50-day moving average price is $26.69 and its 200-day moving average price is $27.95.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.55 earnings per share (EPS) for the quarter. The business 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%. Equities research analysts forecast that Movado Group, Inc. will post 1.25 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.32%. Movado Group’s dividend payout ratio is currently 67.96%.

Analyst Ratings Changes

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

About Movado Group

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.