Linden Thomas Advisory Services LLC Cuts Holdings in Movado Group, Inc. (NYSE:MOV)

Linden Thomas Advisory Services LLC trimmed its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 46,488 shares of the company’s stock after selling 538 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Movado Group were worth $1,402,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake in 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 acquiring an additional 1,745 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Movado Group by 55.7% in the third quarter. Assenagon Asset Management S.A. now owns 105,968 shares of the company’s stock valued at $2,898,000 after acquiring an additional 37,914 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Movado Group by 6.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,760 shares of the company’s stock valued at $475,000 after acquiring an additional 900 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in Movado Group in the fourth quarter valued at approximately $511,000. Finally, Boston Partners acquired a new stake in shares of Movado Group during the third quarter worth $2,228,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Movado Group Stock Performance

NYSE MOV traded up $0.06 on Wednesday, reaching $26.57. 41,728 shares of the company’s stock traded hands, compared to its average volume of 190,923. Movado Group, Inc. has a fifty-two week low of $23.94 and a fifty-two week high of $31.44. The stock has a 50 day moving average price of $27.28 and a 200-day moving average price of $28.15. The firm has a market cap of $587.99 million, a price-to-earnings ratio of 12.87 and a beta of 1.13.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.55 EPS for the quarter. Movado Group had a return on equity of 9.56% and a net margin of 6.94%. The company had revenue of $179.62 million during the quarter. As a group, equities research analysts anticipate that Movado Group, Inc. will post 1.25 EPS for the current fiscal year.

Movado Group Announces Dividend

The business also recently declared 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 5.27%. Movado Group’s dividend payout ratio (DPR) is presently 67.96%.

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.