Teacher Retirement System of Texas Has $459,000 Stock Position in Movado Group Inc. (NYSE:MOV)

Teacher Retirement System of Texas lessened its stake in shares of Movado Group Inc. (NYSE:MOV - Free Report) by 75.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 approximately 0.12% of Movado Group worth $459,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Millennium Management LLC raised its position in shares of Movado Group by 10.2% in the fourth quarter. Millennium Management LLC now owns 443,179 shares of the company's stock valued at $8,722,000 after buying an additional 41,063 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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 valued at $4,320,000 after purchasing an additional 22,578 shares during the period. Victory Capital Management Inc. boosted its stake 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 valued at $745,000 after purchasing an additional 21,505 shares during the period. Landscape Capital Management L.L.C. boosted its stake 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 valued at $1,231,000 after purchasing an additional 20,174 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in Movado Group in the fourth quarter valued at approximately $707,000. Hedge funds and other institutional investors own 72.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. BWS Financial restated a "buy" rating and set a $31.50 target price on shares of Movado Group in a research report on Monday, June 2nd. Wall Street Zen upgraded 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%

Shares of NYSE:MOV traded down $0.14 during midday trading on Friday, hitting $16.22. 87,928 shares of the stock were exchanged, compared to its average volume of 214,196. The company has a 50 day moving average price of $16.21 and a 200-day moving average price of $16.99. Movado Group Inc. has a twelve month low of $12.85 and a twelve month high of $26.51. The stock has a market cap of $360.68 million, a P/E ratio of 20.28 and a beta of 1.19.

Movado Group (NYSE:MOV - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31). The company had revenue of $131.77 million for the quarter, compared to analyst estimates of $142.11 million. Movado Group had a net margin of 2.78% and a return on equity of 5.10%. On average, equities research 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 announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given 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 of this dividend was Thursday, June 12th. Movado Group's payout ratio is 175.00%.

Movado Group Company 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.