Matarin Capital Management LLC acquired a new position in Movado (NYSE:MOV) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 112,328 shares of the company’s stock, valued at approximately $4,313,000. Matarin Capital Management LLC owned approximately 0.49% of Movado as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Virginia Retirement Systems ET AL grew its stake in shares of Movado by 7.4% in the 1st quarter. Virginia Retirement Systems ET AL now owns 20,200 shares of the company’s stock worth $776,000 after buying an additional 1,400 shares in the last quarter. Brandywine Global Investment Management LLC grew its stake in shares of Movado by 33.4% in the 4th quarter. Brandywine Global Investment Management LLC now owns 11,602 shares of the company’s stock worth $374,000 after buying an additional 2,905 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Movado by 5.6% in the 4th quarter. California Public Employees Retirement System now owns 65,131 shares of the company’s stock worth $2,097,000 after buying an additional 3,427 shares in the last quarter. Alambic Investment Management L.P. grew its stake in shares of Movado by 10.2% in the 4th quarter. Alambic Investment Management L.P. now owns 47,472 shares of the company’s stock worth $1,529,000 after buying an additional 4,400 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Movado by 22.2% in the 4th quarter. Wells Fargo & Company MN now owns 25,470 shares of the company’s stock worth $820,000 after acquiring an additional 4,630 shares during the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.
In related news, VP Francis Anthony Morelli sold 10,000 shares of Movado stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $37.61, for a total transaction of $376,100.00. Following the completion of the sale, the vice president now owns 52,810 shares in the company, valued at approximately $1,986,184.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Cote sold 1,000 shares of Movado stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $32.00, for a total transaction of $32,000.00. Following the sale, the director now owns 392,296 shares of the company’s stock, valued at approximately $12,553,472. The disclosure for this sale can be found here. Insiders have sold a total of 213,203 shares of company stock valued at $8,163,081 in the last quarter. 30.56% of the stock is currently owned by company insiders.
Movado opened at $41.05 on Friday, MarketBeat.com reports. The stock has a market capitalization of $906.09 million, a PE ratio of 20.53 and a beta of -0.15. Movado has a 12-month low of $20.50 and a 12-month high of $42.25.
Movado (NYSE:MOV) last released its earnings results on Thursday, March 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.26. The firm had revenue of $149.20 million during the quarter, compared to analyst estimates of $132.43 million. Movado had a negative net margin of 2.68% and a positive return on equity of 9.78%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $0.22 EPS. research analysts expect that Movado will post 2.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 25th. Investors of record on Wednesday, April 11th were issued a dividend of $0.20 per share. This is a positive change from Movado’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, April 10th. This represents a $0.80 dividend on an annualized basis and a yield of 1.95%. Movado’s dividend payout ratio (DPR) is presently 40.00%.
MOV has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Movado from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Thursday, February 22nd. ValuEngine upgraded shares of Movado from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Cowen restated a “hold” rating and issued a $42.00 target price on shares of Movado in a report on Monday, April 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $39.00.
Movado Company Profile
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.
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