Movado Group, Inc. (NYSE:MOV) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its holdings in Movado Group, Inc. (NYSE:MOV – Get Rating) by 18.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,879 shares of the company’s stock after selling 11,216 shares during the period. Russell Investments Group Ltd. owned approximately 0.23% of Movado Group worth $1,641,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Captrust Financial Advisors grew its holdings in Movado Group by 89.5% during the 1st quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock valued at $42,000 after purchasing an additional 511 shares in the last quarter. Group One Trading L.P. acquired a new stake in Movado Group during the 3rd quarter valued at $56,000. Point72 Hong Kong Ltd acquired a new stake in Movado Group during the 3rd quarter valued at $63,000. Quantbot Technologies LP grew its holdings in Movado Group by 153.3% during the 1st quarter. Quantbot Technologies LP now owns 2,839 shares of the company’s stock valued at $110,000 after purchasing an additional 1,718 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in Movado Group by 17.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 3,190 shares of the company’s stock valued at $90,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds own 67.21% of the company’s stock.

Movado Group Price Performance

NYSE MOV opened at $26.57 on Wednesday. Movado Group, Inc. has a 12 month low of $24.25 and a 12 month high of $37.92. The company has a market capitalization of $588.26 million, a price-to-earnings ratio of 6.45 and a beta of 1.21. The company’s fifty day moving average price is $27.11 and its two-hundred day moving average price is $31.27.

Movado Group (NYSE:MOV – Get Rating) last posted its quarterly earnings data on Thursday, March 23rd. The company reported $1.03 EPS for the quarter. Movado Group had a net margin of 12.57% and a return on equity of 20.09%. The firm had revenue of $194.27 million for the quarter. As a group, analysts anticipate that Movado Group, Inc. will post 2.79 EPS for the current year.

Movado Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 19th. Shareholders of record on Wednesday, April 5th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 20.32%. This is an increase from Movado Group’s previous quarterly dividend of $0.35. The ex-dividend date was Tuesday, April 4th. Movado Group’s dividend payout ratio is 33.98%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MOV. TD Cowen lowered their price target on shares of Movado Group from $38.00 to $32.00 and set a “market perform” rating for the company in a report on Friday, March 24th. StockNews.com began coverage on shares of Movado Group in a report on Thursday, May 18th. They set a “buy” rating for the company.

Movado Group Company Profile

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Movado Group, Inc engages in the design, manufacture, and distribution of watches. It operates through the Watch and Accessory Brands, and Company Stores segments. The Watch and Accessory Brands segment includes the distribution of watches and, to a lesser extent, jewelry and other accessories, of owned and licensed brands, in addition to revenue generated from after-sales service activities and shipping.