Movado Group, Inc. (NYSE:MOV) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in shares of Movado Group, Inc. (NYSE:MOVFree Report) by 32.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,903 shares of the company’s stock after selling 6,659 shares during the period. BNP Paribas Financial Markets owned 0.06% of Movado Group worth $419,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Movado Group by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,906 shares of the company’s stock worth $7,173,000 after purchasing an additional 11,876 shares during the last quarter. Summit Global Investments raised its position in shares of Movado Group by 34.1% during the 4th quarter. Summit Global Investments now owns 17,835 shares of the company’s stock worth $538,000 after purchasing an additional 4,539 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Movado Group by 27.3% in the 4th quarter. Russell Investments Group Ltd. now owns 26,410 shares of the company’s stock worth $796,000 after acquiring an additional 5,668 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Movado Group by 50.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,535 shares of the company’s stock worth $137,000 after acquiring an additional 1,529 shares during the period. Finally, Everence Capital Management Inc. purchased a new stake in Movado Group in the 4th quarter worth approximately $205,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “buy” rating and issued a $41.00 target price on shares of Movado Group in a research note on Friday.

Read Our Latest Research Report on Movado Group

Movado Group Stock Performance

MOV stock opened at $26.87 on Tuesday. The stock has a market capitalization of $594.55 million, a P/E ratio of 15.01 and a beta of 1.14. Movado Group, Inc. has a one year low of $23.94 and a one year high of $31.44. The company has a 50 day moving average price of $26.57 and a two-hundred day moving average price of $27.77.

Movado Group (NYSE:MOVGet Free Report) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.55 earnings per share (EPS) for the quarter. Movado Group had a net margin of 6.09% and a return on equity of 8.18%. The company had revenue of $179.62 million during the quarter. Research analysts forecast that Movado Group, Inc. will post 1.25 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $1.40 annualized dividend and a dividend yield of 5.21%. Movado Group’s dividend payout ratio is presently 78.21%.

Movado Group Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Movado Group (NYSE:MOV)

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