20,500 Shares in Movado Group Inc. (NYSE:MOV) Acquired by Annis Gardner Whiting Capital Advisors LLC

Key Points

• Annis Gardner Whiting Capital Advisors LLC has invested approximately $343,000 in Movado Group Inc., acquiring 20,500 shares, now holding 0.09% of the company.
• Movado Group's financial performance showed a miss in earnings, reporting $0.08 per share versus an expected $0.39 and revenue of $131.77 million compared to $142.11 million.
• The company announced a quarterly dividend of $0.35 per share, with a dividend yield of 9.0%, although its payout ratio stands at a significant 175.00%.

Annis Gardner Whiting Capital Advisors LLC purchased a new position in Movado Group Inc. (NYSE:MOV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,500 shares of the company's stock, valued at approximately $343,000. Annis Gardner Whiting Capital Advisors LLC owned 0.09% of Movado Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new position in shares of Movado Group in the fourth quarter worth about $47,000. GAMMA Investing LLC boosted its stake in shares of Movado Group by 3,303.5% in the first quarter. GAMMA Investing LLC now owns 2,893 shares of the company's stock worth $48,000 after acquiring an additional 2,808 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Movado Group by 1,597.5% in the first quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company's stock worth $57,000 after acquiring an additional 3,211 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Movado Group by 24.0% in the fourth quarter. Two Sigma Advisers LP now owns 12,400 shares of the company's stock worth $244,000 after acquiring an additional 2,400 shares during the period. Finally, Wells Fargo & Company MN boosted 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 worth $283,000 after acquiring an additional 2,234 shares during the period. 72.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen raised Movado Group from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. BWS Financial reissued a "buy" rating and set a $31.50 price target on shares of Movado Group in a research note on Monday, June 2nd.

Movado Group Stock Up 0.3%

Movado Group stock traded up $0.04 during midday trading on Friday, reaching $15.49. 84,746 shares of the stock traded hands, compared to its average volume of 108,833. The stock's fifty day moving average is $15.94 and its 200-day moving average is $16.67. Movado Group Inc. has a 12 month low of $12.85 and a 12 month high of $24.98. The stock has a market cap of $344.50 million, a P/E ratio of 19.36 and a beta of 1.24.

Movado Group (NYSE:MOV - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31). The firm had revenue of $131.77 million for the quarter, compared to the consensus estimate of $142.11 million. Movado Group had a net margin of 2.78% and a return on equity of 5.10%. On average, equities analysts predict that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend was Thursday, June 12th. Movado Group's dividend payout ratio (DPR) is presently 175.00%.

About Movado Group

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.