41,931 Shares in Movado Group Inc. $MOV Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired approximately $701,000 worth of shares in Movado Group Inc., purchasing 41,931 shares during the first quarter.
• Movado Group announced a quarterly dividend of $0.35 per share, representing a yield of 7.5%, with the ex-dividend date set for September 8th.
• Wall Street analysts have shown positive sentiment, with Movado Group's stock receiving a "buy" rating and a target price of $31.50.

Nuveen LLC purchased a new position in shares of Movado Group Inc. (NYSE:MOV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 41,931 shares of the company's stock, valued at approximately $701,000. Nuveen LLC owned about 0.19% of Movado Group as of its most recent SEC filing.

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

Movado Group Trading Up 0.8%

Shares of NYSE:MOV traded up $0.15 during mid-day trading on Friday, reaching $19.45. The stock had a trading volume of 354,013 shares, compared to its average volume of 150,798. The business's 50 day moving average price is $16.61 and its 200 day moving average price is $16.32. Movado Group Inc. has a 1 year low of $12.85 and a 1 year high of $22.20. The company has a market cap of $432.55 million, a P/E ratio of 25.26 and a beta of 1.24.

Movado Group (NYSE:MOV - Get Free Report) last issued its quarterly earnings data 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). Movado Group had a return on equity of 5.45% and a net margin of 2.66%.The firm had revenue of $161.83 million for the quarter, compared to analysts' expectations of $156.84 million. Analysts predict that Movado Group Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Monday, September 8th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Monday, September 8th. Movado Group's dividend payout ratio (DPR) is presently 181.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MOV shares. Zacks Research lowered shares of Movado Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 2nd. Wall Street Zen upgraded shares of Movado Group from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, BWS Financial reaffirmed a "buy" rating and set a $31.50 price target on shares of Movado Group in a report on Friday, August 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $31.50.

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.