Grantham Mayo Van Otterloo & Co. LLC increased its stake in Movado Group, Inc (NYSE:MOV) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 272,419 shares of the company’s stock after purchasing an additional 10,100 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 1.18% of Movado Group worth $7,355,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Northern Trust Corp increased its holdings in shares of Movado Group by 0.8% in the 2nd quarter. Northern Trust Corp now owns 458,665 shares of the company’s stock worth $12,384,000 after buying an additional 3,631 shares during the last quarter. Independence Advisors LLC bought a new position in Movado Group during the 2nd quarter valued at about $424,000. Ancora Advisors LLC grew its holdings in Movado Group by 94.5% during the 2nd quarter. Ancora Advisors LLC now owns 25,039 shares of the company’s stock valued at $676,000 after purchasing an additional 12,166 shares during the last quarter. Quantamental Technologies LLC bought a new position in Movado Group during the 2nd quarter valued at about $48,000. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Movado Group by 126.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 520,000 shares of the company’s stock valued at $14,040,000 after purchasing an additional 290,000 shares during the last quarter. Institutional investors own 70.13% of the company’s stock.
In other news, Director Maurice S. Reznik acquired 3,002 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average cost of $21.25 per share, for a total transaction of $63,792.50. Following the completion of the transaction, the director now owns 35,732 shares in the company, valued at $759,305. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 29.92% of the stock is currently owned by company insiders.
Shares of Movado Group stock opened at $24.94 on Thursday. The company has a current ratio of 3.64, a quick ratio of 2.05 and a debt-to-equity ratio of 0.27. Movado Group, Inc has a 12-month low of $18.78 and a 12-month high of $44.39. The firm has a market capitalization of $556.55 million, a price-to-earnings ratio of 9.34 and a beta of 0.54. The firm’s 50 day simple moving average is $24.02 and its two-hundred day simple moving average is $29.53.
Movado Group (NYSE:MOV) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.13). The firm had revenue of $157.80 million for the quarter, compared to analysts’ expectations of $167.00 million. Movado Group had a return on equity of 11.74% and a net margin of 9.23%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $0.45 earnings per share. On average, sell-side analysts predict that Movado Group, Inc will post 2.27 EPS for the current fiscal year.
The firm also recently declared a — dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th will be paid a $0.20 dividend. This represents a dividend yield of 3.8%. The ex-dividend date is Monday, September 9th. Movado Group’s dividend payout ratio is currently 29.96%.
Several equities analysts recently commented on the stock. TheStreet downgraded shares of Movado Group from a “b-” rating to a “c+” rating in a report on Monday, June 10th. Cowen cut shares of Movado Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $40.00 to $22.00 in a research report on Thursday, August 29th. Finally, Zacks Investment Research cut shares of Movado Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 5th.
Movado Group Company Profile
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
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