Movado Group, Inc. (NYSE:MOV) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,395 shares of the company’s stock after purchasing an additional 848 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.11% of Movado Group worth $500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Movado Group by 368.7% in the third quarter. Barclays PLC now owns 26,664 shares of the company’s stock valued at $496,000 after purchasing an additional 20,975 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Movado Group by 3.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company’s stock worth $1,340,000 after acquiring an additional 1,994 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Movado Group by 5.1% in the 4th quarter. Empowered Funds LLC now owns 102,680 shares of the company’s stock worth $2,021,000 after purchasing an additional 4,958 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Movado Group by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company’s stock valued at $4,320,000 after acquiring an additional 22,578 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Movado Group in the 4th quarter worth $804,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Movado Group Trading Up 2.4%

MOV stock opened at $17.08 on Wednesday. The business’s 50-day moving average price is $15.53 and its two-hundred day moving average price is $18.21. The firm has a market cap of $379.81 million, a PE ratio of 16.42 and a beta of 1.17. Movado Group, Inc. has a 1-year low of $12.85 and a 1-year high of $27.80.

Movado Group (NYSE:MOV) last posted its earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.12. The firm had revenue of $181.48 million for the quarter, compared to analyst estimates of $180.62 million. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. On average, analysts forecast that Movado Group, Inc. will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Tuesday, April 22nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.20%. The ex-dividend date of this dividend was Tuesday, April 22nd. Movado Group’s dividend payout ratio is currently 160.92%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MOV. BWS Financial reiterated a “buy” rating and set a $31.50 price target on shares of Movado Group in a report on Monday, April 21st. StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th.

Movado Group Company Profile

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.