American Century Companies Inc. Has $7.25 Million Holdings in Movado Group Inc. $MOV

Key Points

• American Century Companies Inc. has increased its stake in Movado Group Inc. by 5.8%, now holding a total of 433,322 shares worth approximately $7,245,000.
• Movado Group recently reported earnings of $0.08 per share, significantly missing the consensus estimate of $0.39, while total revenue for the quarter was $131.77 million, below the anticipated $142.11 million.
• The company announced a quarterly dividend of $0.35 per share, resulting in an annualized yield of 8.0%, despite having a high dividend payout ratio of 175.00%.

American Century Companies Inc. grew its stake in Movado Group Inc. (NYSE:MOV - Free Report) by 5.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,322 shares of the company's stock after acquiring an additional 23,737 shares during the period. American Century Companies Inc. owned 1.95% of Movado Group worth $7,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Deutsche Bank AG boosted its position in Movado Group by 0.8% during the first quarter. Deutsche Bank AG now owns 92,226 shares of the company's stock valued at $1,542,000 after purchasing an additional 726 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Movado Group by 1.7% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 47,681 shares of the company's stock worth $797,000 after purchasing an additional 784 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Movado Group by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,395 shares of the company's stock valued at $500,000 after buying an additional 848 shares during the last quarter. Barclays PLC grew its stake in shares of Movado Group by 5.3% in the fourth quarter. Barclays PLC now owns 28,080 shares of the company's stock valued at $552,000 after buying an additional 1,416 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Movado Group by 18.4% in the fourth quarter. Wells Fargo & Company MN now owns 14,372 shares of the company's stock valued at $283,000 after buying an additional 2,234 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company's stock.

Movado Group Trading Up 2.5%

Shares of NYSE:MOV traded up $0.44 during trading on Friday, reaching $18.28. 240,673 shares of the stock were exchanged, compared to its average volume of 138,250. Movado Group Inc. has a 12 month low of $12.85 and a 12 month high of $24.47. The stock has a 50-day moving average price of $16.25 and a 200-day moving average price of $16.38. The firm has a market cap of $406.52 million, a PE ratio of 23.74 and a beta of 1.24.

Movado Group (NYSE:MOV - Get Free Report) last announced its earnings results on Thursday, August 28th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.08). The firm had revenue of $161.83 million for the quarter, compared to the consensus estimate of $156.84 million. Movado Group had a return on equity of 5.45% and a net margin of 2.66%. On average, sell-side analysts expect that Movado Group Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Monday, September 8th will be paid a $0.35 dividend. The ex-dividend date is Monday, September 8th. This represents a $1.40 annualized dividend and a dividend yield of 7.7%. Movado Group's dividend payout ratio is 175.00%.

Analyst Ratings Changes

A number of brokerages have commented on MOV. Wall Street Zen upgraded shares of Movado Group from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. BWS Financial reaffirmed a "buy" rating and issued a $31.50 target price on shares of Movado Group in a report on Friday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $31.50.

Movado Group 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.