Movado Group, Inc. (NYSE:MOV) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lifted its position in shares of Movado Group, Inc. (NYSE:MOV) by 28.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,583 shares of the company’s stock after purchasing an additional 3,933 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Movado Group were worth $437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in shares of Movado Group during the 2nd quarter worth approximately $689,000. Victory Capital Management Inc. grew its stake in shares of Movado Group by 105.4% during the 2nd quarter. Victory Capital Management Inc. now owns 15,029 shares of the company’s stock worth $374,000 after purchasing an additional 7,712 shares during the period. Banque Cantonale Vaudoise grew its stake in shares of Movado Group by 117.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 5,581 shares of the company’s stock worth $139,000 after purchasing an additional 3,011 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Movado Group during the 2nd quarter worth approximately $211,000. Finally, Innealta Capital LLC acquired a new stake in shares of Movado Group during the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

Insider Buying and Selling at Movado Group

In other Movado Group news, SVP Michelle Kennedy sold 1,245 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total value of $32,432.25. Following the transaction, the senior vice president now owns 12,202 shares in the company, valued at approximately $317,862.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 30.11% of the stock is currently owned by insiders.

Movado Group Stock Performance

Movado Group stock opened at $19.86 on Friday. The company’s fifty day moving average price is $23.21 and its 200 day moving average price is $25.14. Movado Group, Inc. has a 1 year low of $18.02 and a 1 year high of $31.44. The stock has a market capitalization of $441.09 million, a P/E ratio of 11.09 and a beta of 1.00.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The company had revenue of $159.31 million during the quarter. Movado Group had a net margin of 5.45% and a return on equity of 7.23%. During the same quarter in the prior year, the company earned $0.38 earnings per share. Sell-side analysts predict that Movado Group, Inc. will post 0.95 EPS for the current year.

Movado Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.40 dividend on an annualized basis and a yield of 7.05%. Movado Group’s payout ratio is currently 78.21%.

Analyst Upgrades and Downgrades

MOV has been the topic of a number of research analyst reports. StockNews.com cut shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $41.00 price target on shares of Movado Group in a research note on Friday, May 31st.

Movado Group Company Profile

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.