Royce & Associates LP Sells 185,959 Shares of Movado Group Inc. $MOV

Royce & Associates LP lowered its holdings in Movado Group Inc. (NYSE:MOV) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,052,461 shares of the company’s stock after selling 185,959 shares during the period. Royce & Associates LP owned about 4.75% of Movado Group worth $21,702,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in Movado Group by 39.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after purchasing an additional 449 shares in the last quarter. Comerica Bank grew its position in Movado Group by 99.0% in the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after purchasing an additional 888 shares in the last quarter. State of Wyoming bought a new position in Movado Group in the second quarter valued at $40,000. Laurel Wealth Advisors LLC bought a new position in Movado Group in the fourth quarter valued at $42,000. Finally, Strs Ohio bought a new position in Movado Group in the fourth quarter valued at $66,000. Institutional investors own 72.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Movado Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. BWS Financial reiterated a “buy” rating and issued a $31.50 price target on shares of Movado Group in a research note on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Movado Group Price Performance

Shares of MOV stock opened at $29.53 on Wednesday. The stock has a market cap of $651.96 million, a P/E ratio of 25.46 and a beta of 0.86. The company has a fifty day moving average price of $26.33 and a two-hundred day moving average price of $23.59. Movado Group Inc. has a one year low of $14.70 and a one year high of $29.82.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $191.58 million during the quarter, compared to analysts’ expectations of $182.02 million. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. As a group, equities research analysts anticipate that Movado Group Inc. will post 1.53 EPS for the current fiscal year.

Movado Group Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 4.7%. Movado Group’s dividend payout ratio (DPR) is currently 120.69%.

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.