Movado Group Inc. (NYSE:MOV) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its position in shares of Movado Group Inc. (NYSE:MOV) by 75.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,439 shares of the company’s stock after selling 84,730 shares during the period. Teacher Retirement System of Texas owned approximately 0.12% of Movado Group worth $459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Movado Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 959,424 shares of the company’s stock valued at $18,881,000 after purchasing an additional 9,999 shares during the period. Ameriprise Financial Inc. boosted its stake in 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 buying an additional 88,778 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Movado Group by 202.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company’s stock valued at $9,414,000 after acquiring an additional 320,103 shares during the last quarter. Millennium Management LLC raised its stake in shares of Movado Group by 10.2% in the 4th quarter. Millennium Management LLC now owns 443,179 shares of the company’s stock valued at $8,722,000 after acquiring an additional 41,063 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Movado Group by 2.5% in the 4th quarter. American Century Companies Inc. now owns 409,585 shares of the company’s stock valued at $8,061,000 after acquiring an additional 9,851 shares during the period. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on MOV shares. Wall Street Zen raised Movado Group from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. BWS Financial reissued a “buy” rating and set a $31.50 target price on shares of Movado Group in a research note on Monday, June 2nd.

Movado Group Stock Performance

Shares of MOV stock opened at $16.27 on Thursday. Movado Group Inc. has a fifty-two week low of $12.85 and a fifty-two week high of $26.59. The company has a 50 day moving average price of $16.17 and a 200 day moving average price of $17.05. The stock has a market capitalization of $361.73 million, a P/E ratio of 20.33 and a beta of 1.19.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.31). The company had revenue of $131.77 million during the quarter, compared to analyst estimates of $142.11 million. Movado Group had a net margin of 2.78% and a return on equity of 5.10%. On average, research analysts forecast that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 8.61%. The ex-dividend date was Thursday, June 12th. Movado Group’s payout ratio is 175.00%.

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.