New York State Teachers Retirement System Trims Stake in Movado Group, Inc. (NYSE:MOV)

New York State Teachers Retirement System lowered its stake in shares of Movado Group, Inc. (NYSE:MOV) by 2.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 33,636 shares of the company’s stock after selling 923 shares during the period. New York State Teachers Retirement System’s holdings in Movado Group were worth $1,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Denali Advisors LLC increased its position in shares of Movado Group by 715.0% during the fourth quarter. Denali Advisors LLC now owns 32,600 shares of the company’s stock valued at $983,000 after buying an additional 28,600 shares during the period. Assenagon Asset Management S.A. grew its holdings in Movado Group by 49.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 157,963 shares of the company’s stock worth $4,763,000 after purchasing an additional 51,995 shares during the period. Pacer Advisors Inc. grew its holdings in Movado Group by 62.6% in the fourth quarter. Pacer Advisors Inc. now owns 610,588 shares of the company’s stock worth $18,409,000 after purchasing an additional 235,039 shares during the period. SG Americas Securities LLC grew its holdings in Movado Group by 6.1% in the fourth quarter. SG Americas Securities LLC now owns 9,469 shares of the company’s stock worth $285,000 after purchasing an additional 544 shares during the period. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in Movado Group in the fourth quarter worth about $511,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

Movado Group Stock Performance

Shares of MOV opened at $24.86 on Friday. The stock has a market cap of $550.15 million, a PE ratio of 12.07 and a beta of 1.13. Movado Group, Inc. has a fifty-two week low of $23.94 and a fifty-two week high of $31.44. The firm’s 50-day simple moving average is $27.43 and its two-hundred day simple moving average is $28.19.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.55 earnings per share 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 predict that Movado Group, Inc. will post 1.25 EPS for the current year.

Movado Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 8th. This represents a $1.40 annualized dividend and a dividend yield of 5.63%. Movado Group’s dividend payout ratio 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.