Charles Schwab Investment Management Inc. Has $3.12 Million Stock Holdings in Movado Group Inc. $MOV

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Movado Group Inc. by 14.1%, owning 186,468 shares valued at approximately $3.12 million as of the latest SEC filing.
• Movado Group recently declared a quarterly dividend of $0.35 per share, with a 7.7% yield and a payout ratio of 175.00%.
• The company's stock currently has a consensus rating of "Buy" from analysts, with an average target price set at $31.50.

Charles Schwab Investment Management Inc. increased its stake in shares of Movado Group Inc. (NYSE:MOV - Free Report) by 14.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 186,468 shares of the company's stock after acquiring an additional 23,095 shares during the period. Charles Schwab Investment Management Inc. owned 0.84% of Movado Group worth $3,118,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Royce & Associates LP boosted its position in Movado Group by 10.3% during the first quarter. Royce & Associates LP now owns 1,628,031 shares of the company's stock worth $27,221,000 after purchasing an additional 152,677 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Movado Group by 19.3% during the 4th quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company's stock worth $10,813,000 after buying an additional 88,778 shares during the period. Millennium Management LLC boosted its holdings in shares of Movado Group by 10.2% during the 4th quarter. Millennium Management LLC now owns 443,179 shares of the company's stock worth $8,722,000 after buying an additional 41,063 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in Movado Group by 174.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 307,790 shares of the company's stock valued at $6,057,000 after buying an additional 195,465 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in Movado Group by 56.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 257,578 shares of the company's stock worth $5,069,000 after acquiring an additional 93,388 shares during the period. 72.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MOV has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Movado Group from a "sell" rating to a "hold" rating in a report on Friday, June 27th. BWS Financial reaffirmed a "buy" rating and issued a $31.50 price target on shares of Movado Group in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Movado Group presently has a consensus rating of "Buy" and an average price target of $31.50.

Movado Group Trading Down 0.5%

Shares of Movado Group stock traded down $0.09 during trading on Wednesday, reaching $18.76. The company's stock had a trading volume of 65,138 shares, compared to its average volume of 183,387. Movado Group Inc. has a one year low of $12.85 and a one year high of $23.04. The stock has a 50-day moving average price of $16.38 and a two-hundred day moving average price of $16.34. The stock has a market capitalization of $417.22 million, a P/E ratio of 24.33 and a beta of 1.24.

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

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Monday, September 8th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.5%. The ex-dividend date is Monday, September 8th. Movado Group's dividend payout ratio (DPR) is 181.82%.

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.