Voya Investment Management LLC decreased its stake in Movado Group, Inc (NYSE:MOV) by 12.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 6,857 shares of the company’s stock after selling 1,013 shares during the period. Voya Investment Management LLC’s holdings in Movado Group were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of MOV. Piedmont Investment Advisors LLC purchased a new stake in shares of Movado Group during the second quarter worth about $176,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Movado Group during the first quarter worth about $218,000. A.R.T. Advisors LLC purchased a new stake in shares of Movado Group during the first quarter worth about $220,000. Jane Street Group LLC purchased a new stake in shares of Movado Group during the first quarter worth about $220,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Movado Group during the second quarter worth about $231,000. Institutional investors and hedge funds own 67.90% of the company’s stock.
A number of equities analysts recently commented on MOV shares. Cowen raised Movado Group from a “market perform” rating to an “outperform” rating in a research note on Monday, October 8th. Zacks Investment Research raised Movado Group from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a research note on Tuesday, September 4th. ValuEngine lowered Movado Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 4th. Finally, Sidoti raised Movado Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 22nd.
Shares of Movado Group stock opened at $37.70 on Friday. Movado Group, Inc has a 12 month low of $26.09 and a 12 month high of $53.72. The company has a market cap of $908.14 million, a P/E ratio of 16.48 and a beta of -0.16.
Movado Group (NYSE:MOV) last announced its quarterly earnings results on Wednesday, August 29th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. Movado Group had a return on equity of 11.81% and a net margin of 0.12%. The company had revenue of $144.10 million during the quarter, compared to analyst estimates of $137.50 million. During the same period in the prior year, the company earned $0.43 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts anticipate that Movado Group, Inc will post 2.54 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 25th. Investors of record on Tuesday, September 11th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, September 10th. Movado Group’s payout ratio is presently 40.00%.
About Movado Group
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.
Further Reading: Ex-Dividend
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