Brandes Investment Partners LP Makes New $5.54 Million Investment in Movado Group Inc. $MOV

Brandes Investment Partners LP bought a new stake in Movado Group Inc. (NYSE:MOV) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 363,296 shares of the company’s stock, valued at approximately $5,540,000. Brandes Investment Partners LP owned approximately 1.63% of Movado Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in Movado Group by 212.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock worth $11,226,000 after acquiring an additional 456,727 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Movado Group by 426.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 176,015 shares of the company’s stock valued at $2,684,000 after purchasing an additional 142,601 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Movado Group by 153.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 161,178 shares of the company’s stock valued at $2,458,000 after purchasing an additional 97,566 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Movado Group by 293.4% in the first quarter. Cubist Systematic Strategies LLC now owns 97,842 shares of the company’s stock worth $1,636,000 after purchasing an additional 72,970 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Movado Group by 413.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 74,139 shares of the company’s stock worth $1,240,000 after purchasing an additional 59,707 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Movado Group Stock Down 1.3%

Shares of MOV opened at $21.02 on Wednesday. The stock’s 50-day moving average price is $18.82 and its 200 day moving average price is $17.51. The firm has a market capitalization of $465.39 million, a price-to-earnings ratio of 27.30 and a beta of 1.25. Movado Group Inc. has a 12-month low of $12.85 and a 12-month high of $22.20.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Tuesday, November 25th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). The business had revenue of $186.13 million for the quarter, compared to analyst estimates of $185.89 million. Movado Group had a return on equity of 5.45% and a net margin of 2.66%.During the same quarter in the prior year, the firm earned $0.22 EPS. Equities research analysts expect that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, December 8th. This represents a $1.40 dividend on an annualized basis and a yield of 6.7%. Movado Group’s dividend payout ratio (DPR) is currently 144.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Movado Group from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Weiss Ratings raised Movado Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday. Zacks Research lowered Movado Group from a “hold” rating to a “strong sell” rating in a research report on Friday, November 28th. Finally, BWS Financial reaffirmed a “buy” rating and set a $31.50 price target on shares of Movado Group in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.50.

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.