Metropolitan Life Insurance Co. NY increased its holdings in Movado Group, Inc (NYSE:MOV) by 385.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,763 shares of the company’s stock after acquiring an additional 4,576 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Movado Group were worth $182,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Movado Group by 10.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 273,528 shares of the company’s stock valued at $11,460,000 after purchasing an additional 26,023 shares during the last quarter. Martingale Asset Management L P boosted its stake in Movado Group by 75.1% during the 3rd quarter. Martingale Asset Management L P now owns 42,913 shares of the company’s stock valued at $1,799,000 after purchasing an additional 18,409 shares during the last quarter. BlackRock Inc. boosted its stake in Movado Group by 6.8% during the 3rd quarter. BlackRock Inc. now owns 2,438,228 shares of the company’s stock valued at $102,162,000 after purchasing an additional 154,931 shares during the last quarter. Credit Suisse AG boosted its stake in Movado Group by 100.1% during the 3rd quarter. Credit Suisse AG now owns 42,860 shares of the company’s stock valued at $1,795,000 after purchasing an additional 21,446 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Movado Group by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,362,716 shares of the company’s stock valued at $57,098,000 after purchasing an additional 20,830 shares during the last quarter. 69.77% of the stock is currently owned by institutional investors and hedge funds.
In other Movado Group news, CEO Efraim Grinberg sold 20,000 shares of Movado Group stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $34.47, for a total transaction of $689,400.00. Following the completion of the transaction, the chief executive officer now owns 204,829 shares in the company, valued at approximately $7,060,455.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 30.56% of the stock is currently owned by insiders.
MOV stock opened at $33.14 on Wednesday. The stock has a market cap of $757.06 million, a price-to-earnings ratio of 12.34 and a beta of 0.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.15 and a quick ratio of 2.69. Movado Group, Inc has a 52-week low of $28.76 and a 52-week high of $53.72.
Movado Group (NYSE:MOV) last released its quarterly earnings results on Thursday, March 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. The business had revenue of $199.40 million during the quarter, compared to the consensus estimate of $194.00 million. Movado Group had a return on equity of 13.27% and a net margin of 9.07%. The company’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. On average, analysts forecast that Movado Group, Inc will post 2.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $0.80 dividend on an annualized basis and a yield of 2.41%. Movado Group’s dividend payout ratio (DPR) is currently 29.96%.
Movado Group 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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