Deprince Race & Zollo Inc. Sells 36,717 Shares of Movado Group Inc. $MOV

Deprince Race & Zollo Inc. reduced its position in shares of Movado Group Inc. (NYSE:MOV) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,761 shares of the company’s stock after selling 36,717 shares during the period. Deprince Race & Zollo Inc. owned about 1.00% of Movado Group worth $5,415,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Movado Group by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,029,220 shares of the company’s stock valued at $19,524,000 after acquiring an additional 57,353 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Movado Group by 3.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 888,244 shares of the company’s stock worth $18,316,000 after acquiring an additional 29,137 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of Movado Group by 5.6% during the 4th quarter. Brandes Investment Partners LP now owns 704,036 shares of the company’s stock worth $14,517,000 after acquiring an additional 37,587 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Movado Group by 14.4% in the second quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock valued at $9,712,000 after purchasing an additional 80,109 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Movado Group by 19.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 388,418 shares of the company’s stock valued at $8,009,000 after purchasing an additional 62,278 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on MOV shares. Zacks Research upgraded shares of Movado Group from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Weiss Ratings lowered shares of Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Northland Securities set a $35.00 price target on shares of Movado Group in a research note on Wednesday, May 27th. Finally, BWS Financial boosted their price target on shares of Movado Group from $31.50 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $40.00.

Movado Group Stock Down 1.1%

MOV stock opened at $37.55 on Friday. The company has a market cap of $829.13 million, a price-to-earnings ratio of 26.82 and a beta of 0.96. Movado Group Inc. has a twelve month low of $14.78 and a twelve month high of $39.85. The business has a 50 day moving average price of $33.01 and a two-hundred day moving average price of $26.98.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The company had revenue of $142.40 million for the quarter, compared to analysts’ expectations of $135.12 million. Movado Group had a return on equity of 7.13% and a net margin of 4.70%.During the same quarter in the prior year, the business posted $0.06 EPS. On average, equities research analysts anticipate that Movado Group Inc. will post 1.83 EPS for the current fiscal year.

Movado Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.3%. This is an increase from Movado Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, June 10th. Movado Group’s payout ratio is currently 114.29%.

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.