Teacher Retirement System of Texas Sells 84,730 Shares of Movado Group Inc. (NYSE:MOV)

Teacher Retirement System of Texas lowered its holdings in Movado Group Inc. (NYSE:MOV - Free Report) by 75.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,439 shares of the company's stock after selling 84,730 shares during the period. Teacher Retirement System of Texas owned about 0.12% of Movado Group worth $459,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of Movado Group by 10.2% in the 4th quarter. Millennium Management LLC now owns 443,179 shares of the company's stock worth $8,722,000 after purchasing an additional 41,063 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Movado Group by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company's stock worth $4,320,000 after acquiring an additional 22,578 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Movado Group by 131.7% in the fourth quarter. Victory Capital Management Inc. now owns 37,835 shares of the company's stock worth $745,000 after acquiring an additional 21,505 shares in the last quarter. Landscape Capital Management L.L.C. increased its position in shares of Movado Group by 47.6% in the fourth quarter. Landscape Capital Management L.L.C. now owns 62,551 shares of the company's stock worth $1,231,000 after acquiring an additional 20,174 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Movado Group in the fourth quarter worth approximately $707,000. Institutional investors and hedge funds own 72.08% of the company's stock.

Analysts Set New Price Targets

MOV has been the topic of several analyst reports. BWS Financial reissued a "buy" rating and issued a $31.50 target price on shares of Movado Group in a research report on Monday, June 2nd. Wall Street Zen raised shares of Movado Group from a "sell" rating to a "hold" rating in a research report on Friday, June 27th.

Movado Group Trading Down 0.9%

NYSE MOV traded down $0.14 during trading on Friday, reaching $16.22. The company's stock had a trading volume of 87,928 shares, compared to its average volume of 213,429. The stock has a market capitalization of $360.73 million, a PE ratio of 20.28 and a beta of 1.19. The business has a 50-day moving average price of $16.19 and a 200-day moving average price of $17.03. Movado Group Inc. has a 1-year low of $12.85 and a 1-year high of $26.59.

Movado Group (NYSE:MOV - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31). Movado Group had a return on equity of 5.10% and a net margin of 2.78%. The firm had revenue of $131.77 million during the quarter, compared to analyst estimates of $142.11 million. As a group, analysts expect that Movado Group Inc. will post 1.05 earnings per share for the current year.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 8.63%. The ex-dividend date was Thursday, June 12th. Movado Group's dividend payout ratio (DPR) is presently 175.00%.

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.