Boston Partners Cuts Holdings in Movado Group, Inc. (NYSE:MOV)

Boston Partners reduced its stake in Movado Group, Inc. (NYSE:MOV) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,271 shares of the company’s stock after selling 5,690 shares during the period. Boston Partners owned approximately 0.57% of Movado Group worth $3,499,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MOV. SG Americas Securities LLC increased its holdings in Movado Group by 6.1% in the 4th quarter. SG Americas Securities LLC now owns 9,469 shares of the company’s stock valued at $285,000 after purchasing an additional 544 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Movado Group by 6.1% during 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. Louisiana State Employees Retirement System acquired a new stake in shares of Movado Group during the fourth quarter valued at about $235,000. Everence Capital Management Inc. acquired a new stake in shares of Movado Group during the fourth quarter valued at about $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Movado Group by 50.9% during the fourth 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 in the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Stock Down 3.2 %

Shares of Movado Group stock traded down $0.80 during trading hours on Friday, hitting $24.27. 99,427 shares of the company’s stock traded hands, compared to its average volume of 111,856. The stock has a 50 day simple moving average of $25.41 and a 200-day simple moving average of $26.61. The company has a market cap of $539.04 million, a PE ratio of 13.56 and a beta of 1.04. Movado Group, Inc. has a twelve month low of $23.92 and a twelve month high of $31.44.

Movado Group (NYSE:MOV) last announced its earnings results on Thursday, May 30th. The company reported $0.13 earnings per share for the quarter. The company had revenue of $136.67 million during the quarter. Movado Group had a return on equity of 8.18% and a net margin of 6.09%. As a group, equities research analysts predict that Movado Group, Inc. will post 1.25 EPS for the current year.

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were paid a $0.35 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $1.40 dividend on an annualized basis and a yield of 5.77%. Movado Group’s dividend payout ratio (DPR) is 78.21%.

Insider Buying and Selling

In related news, SVP Michelle Kennedy sold 1,245 shares of Movado Group stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total value of $32,432.25. Following the completion of the transaction, the senior vice president now directly owns 12,202 shares in the company, valued at $317,862.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 30.11% of the company’s stock.

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 research note on Friday, May 31st.

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.