New York State Common Retirement Fund Has $888,000 Holdings in Movado Group Inc. (NYSE:MOV)

Key Points

• The New York State Common Retirement Fund decreased its holdings in Movado Group Inc. by 29.3% during the first quarter, now owning 53,129 shares worth $888,000.
• Movado Group's recent quarterly earnings were disappointing, with an EPS of $0.08 compared to the consensus estimate of $0.39, and its revenue was below expectations at $131.77 million.
• Movado Group declared a quarterly dividend of $0.35 per share and currently has an annualized yield of 8.36%, despite a high dividend payout ratio of 175.00%.

New York State Common Retirement Fund cut its holdings in Movado Group Inc. (NYSE:MOV - Free Report) by 29.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,129 shares of the company's stock after selling 22,000 shares during the quarter. New York State Common Retirement Fund owned 0.24% of Movado Group worth $888,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MOV. American Century Companies Inc. increased its holdings in shares of Movado Group by 2.5% during the fourth quarter. American Century Companies Inc. now owns 409,585 shares of the company's stock valued at $8,061,000 after acquiring an additional 9,851 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Movado Group during the fourth quarter valued at approximately $47,000. Vanguard Group Inc. increased its holdings in shares of Movado Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 959,424 shares of the company's stock valued at $18,881,000 after acquiring an additional 9,999 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Movado Group by 36.6% during the fourth quarter. JPMorgan Chase & Co. now owns 103,413 shares of the company's stock valued at $2,035,000 after acquiring an additional 27,719 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Movado Group by 202.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock valued at $9,414,000 after acquiring an additional 320,103 shares in the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Movado Group from a "sell" rating to a "hold" rating in a report on Friday, June 27th. BWS Financial restated a "buy" rating and set a $31.50 price objective on shares of Movado Group in a report on Monday, June 2nd.

Movado Group Stock Up 1.5%

NYSE MOV opened at $16.74 on Friday. The company has a market cap of $372.20 million, a price-to-earnings ratio of 20.92 and a beta of 1.19. Movado Group Inc. has a 52 week low of $12.85 and a 52 week high of $26.51. The business has a 50 day moving average price of $16.16 and a 200-day moving average price of $16.90.

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

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.40 annualized dividend and a yield of 8.36%. Movado Group's dividend payout ratio (DPR) is currently 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.

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