Brandes Investment Partners LP Boosts Holdings in Movado Group Inc. $MOV

Brandes Investment Partners LP grew its holdings in shares of Movado Group Inc. (NYSE:MOV) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 704,036 shares of the company’s stock after acquiring an additional 37,587 shares during the quarter. Brandes Investment Partners LP’s holdings in Movado Group were worth $14,517,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MOV. PNC Financial Services Group Inc. raised its holdings in Movado Group by 39.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after buying an additional 449 shares during the last quarter. Comerica Bank grew its holdings in Movado Group by 99.0% in the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after acquiring an additional 888 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in Movado Group in the 4th quarter worth $42,000. State of Wyoming bought a new stake in Movado Group in the 2nd quarter worth $40,000. Finally, Strs Ohio bought a new stake in Movado Group in the 4th quarter worth $66,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MOV has been the topic of a number of recent analyst reports. Zacks Research raised shares of Movado Group from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. BWS Financial raised their price target on shares of Movado Group from $31.50 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Northland Securities set a $35.00 price target on shares of Movado Group in a report on Wednesday, May 27th. Finally, Weiss Ratings lowered shares of Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $40.00.

Movado Group Price Performance

Shares of MOV opened at $36.07 on Thursday. Movado Group Inc. has a one year low of $14.70 and a one year high of $38.77. The company has a 50-day simple moving average of $29.14 and a two-hundred day simple moving average of $25.02. The firm has a market capitalization of $796.43 million, a PE ratio of 25.76 and a beta of 0.98.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.06 by $0.26. The business had revenue of $142.40 million during the quarter, compared to analyst estimates of $135.12 million. Movado Group had a net margin of 4.70% and a return on equity of 7.13%. During the same period last year, the business posted $0.06 earnings per share. Analysts expect that Movado Group Inc. will post 1.83 EPS for the current fiscal year.

Movado Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.4%. This is a boost from Movado Group’s previous quarterly dividend of $0.35. Movado Group’s payout ratio is currently 100.00%.

About Movado Group

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.