Millennium Management LLC Boosts Holdings in Movado Group, Inc. (NYSE:MOV)

Millennium Management LLC grew its stake in Movado Group, Inc. (NYSE:MOV) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 443,179 shares of the company’s stock after purchasing an additional 41,063 shares during the quarter. Millennium Management LLC owned approximately 2.00% of Movado Group worth $8,722,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MOV. Arrowstreet Capital Limited Partnership lifted its stake in Movado Group by 202.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company’s stock valued at $9,414,000 after buying an additional 320,103 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Movado Group by 174.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 307,790 shares of the company’s stock valued at $6,057,000 after acquiring an additional 195,465 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Movado Group by 56.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 257,578 shares of the company’s stock worth $5,069,000 after acquiring an additional 93,388 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Movado Group by 19.3% during the fourth quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company’s stock worth $10,813,000 after purchasing an additional 88,778 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Movado Group by 839.8% in the 4th quarter. Deutsche Bank AG now owns 91,500 shares of the company’s stock valued at $1,801,000 after purchasing an additional 81,764 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Stock Down 1.0%

Shares of NYSE:MOV opened at $16.79 on Monday. The business has a fifty day moving average of $15.39 and a two-hundred day moving average of $18.09. The stock has a market cap of $373.36 million, a P/E ratio of 16.14 and a beta of 1.17. Movado Group, Inc. has a 52-week low of $12.85 and a 52-week high of $27.31.

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

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Tuesday, April 22nd were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $1.40 annualized dividend and a yield of 8.34%. Movado Group’s payout ratio is 160.92%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MOV. BWS Financial reaffirmed a “buy” rating and set a $31.50 target price on shares of Movado Group in a report on Monday, April 21st. Wall Street Zen cut shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th.

Movado Group 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.