Northern Trust Corp Sells 57,854 Shares of Movado Group, Inc. (NYSE:MOV)

Northern Trust Corp lessened its stake in Movado Group, Inc. (NYSE:MOV - Free Report) by 25.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,788 shares of the company's stock after selling 57,854 shares during the quarter. Northern Trust Corp owned approximately 0.78% of Movado Group worth $3,381,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Movado Group during the fourth quarter valued at approximately $47,000. Aigen Investment Management LP purchased a new stake in Movado Group during the fourth quarter valued at approximately $201,000. Wells Fargo & Company MN raised its stake in shares of Movado Group by 18.4% during the 4th 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 during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Movado Group during the fourth quarter valued at $284,000. Finally, Inceptionr LLC acquired a new position in Movado Group during the fourth quarter worth about $460,000. Institutional investors own 72.08% of the company's stock.

Movado Group Price Performance

Shares of Movado Group stock traded down $1.21 during trading on Thursday, hitting $16.22. 438,986 shares of the company were exchanged, compared to its average volume of 209,804. The firm has a market capitalization of $360.57 million, a P/E ratio of 15.59 and a beta of 1.17. Movado Group, Inc. has a 1-year low of $12.85 and a 1-year high of $26.96. The firm's fifty day moving average price is $15.31 and its 200 day moving average price is $18.04.

Movado Group (NYSE:MOV - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.31). Movado Group had a net margin of 3.62% and a return on equity of 5.38%. The firm had revenue of $131.77 million during the quarter, compared to the consensus estimate of $142.11 million. As a group, equities research analysts anticipate that Movado Group, Inc. will post 1.05 earnings per share for the current year.

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Tuesday, April 22nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.63%. The ex-dividend date was Tuesday, April 22nd. Movado Group's payout ratio is currently 160.92%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MOV shares. Wall Street Zen cut shares of Movado Group from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. BWS Financial reaffirmed a "buy" rating and issued a $31.50 price objective on shares of Movado Group in a report on Monday, April 21st.

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.