Royce & Associates LP Has $21.70 Million Stock Holdings in Movado Group Inc. $MOV

Royce & Associates LP lessened its stake in shares of Movado Group Inc. (NYSE:MOV) by 15.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,052,461 shares of the company’s stock after selling 185,959 shares during the quarter. Royce & Associates LP’s holdings in Movado Group were worth $21,702,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MOV. Goldman Sachs Group Inc. lifted its stake in shares of Movado Group by 212.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock worth $11,226,000 after buying an additional 456,727 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Movado Group by 153.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 161,178 shares of the company’s stock worth $2,458,000 after buying an additional 97,566 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Movado Group by 14.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock worth $9,712,000 after buying an additional 80,109 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Movado Group by 45.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 255,699 shares of the company’s stock worth $4,851,000 after buying an additional 79,684 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of Movado Group by 288.1% during the 3rd quarter. Two Sigma Investments LP now owns 96,468 shares of the company’s stock worth $1,830,000 after buying an additional 71,614 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Stock Up 3.8%

Shares of Movado Group stock opened at $29.53 on Wednesday. Movado Group Inc. has a twelve month low of $14.70 and a twelve month high of $29.82. The company has a 50-day simple moving average of $26.33 and a two-hundred day simple moving average of $23.59. The stock has a market capitalization of $651.96 million, a price-to-earnings ratio of 25.46 and a beta of 0.86.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, March 19th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. The business had revenue of $191.58 million during the quarter, compared to analysts’ expectations of $182.02 million. On average, sell-side analysts anticipate that Movado Group Inc. will post 1.53 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd were paid a $0.35 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $1.40 annualized dividend and a yield of 4.7%. Movado Group’s payout ratio is 120.69%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MOV shares. Wall Street Zen upgraded shares of Movado Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. BWS Financial restated a “buy” rating and set a $31.50 target price on shares of Movado Group in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Movado Group has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Movado Group Company Profile

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.