Louisiana State Employees Retirement System Purchases Shares of 7,700 Movado Group, Inc. (NYSE:MOV)

Louisiana State Employees Retirement System purchased a new stake in Movado Group, Inc. (NYSE:MOVGet Rating) during the third quarter, according to its most recent filing with the SEC. The fund purchased 7,700 shares of the company’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MOV. US Bancorp DE increased its holdings in Movado Group by 5.9% in the 1st quarter. US Bancorp DE now owns 8,157 shares of the company’s stock valued at $318,000 after acquiring an additional 453 shares during the last quarter. Bank of Montreal Can bought a new stake in Movado Group in the 1st quarter valued at $201,000. MetLife Investment Management LLC increased its holdings in Movado Group by 47.6% in the 1st quarter. MetLife Investment Management LLC now owns 9,762 shares of the company’s stock valued at $381,000 after acquiring an additional 3,146 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Movado Group by 13.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,119 shares of the company’s stock valued at $551,000 after acquiring an additional 1,644 shares during the last quarter. Finally, LSV Asset Management increased its holdings in Movado Group by 233.5% in the 1st quarter. LSV Asset Management now owns 94,244 shares of the company’s stock valued at $3,680,000 after acquiring an additional 65,983 shares during the last quarter. 67.21% of the stock is currently owned by institutional investors.

Movado Group Trading Up 1.8 %

Shares of NYSE MOV opened at $35.70 on Friday. The firm’s 50-day moving average price is $32.41 and its 200-day moving average price is $32.40. The stock has a market capitalization of $800.18 million, a price-to-earnings ratio of 8.02 and a beta of 1.14. Movado Group, Inc. has a 12-month low of $27.72 and a 12-month high of $41.75.

Movado Group (NYSE:MOVGet Rating) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $1.31 earnings per share for the quarter. Movado Group had a net margin of 13.51% and a return on equity of 22.14%. The company had revenue of $211.40 million for the quarter. On average, equities analysts predict that Movado Group, Inc. will post 4.01 EPS for the current fiscal year.

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Friday, December 2nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Thursday, December 1st. Movado Group’s dividend payout ratio (DPR) is currently 31.46%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Ann Kirschner sold 5,000 shares of the stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the director now directly owns 8,897 shares of the company’s stock, valued at approximately $301,430.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.76% of the stock is currently owned by corporate insiders.

Movado Group Company 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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