41,931 Shares in Movado Group Inc. $MOV Acquired 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 first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 41,931 shares of the company's stock, valued at approximately $701,000. Nuveen LLC owned 0.19% of Movado Group at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Aigen Investment Management LP grew its holdings in shares of Movado Group by 33.0% during the 1st quarter. Aigen Investment Management LP now owns 13,591 shares of the company's stock worth $227,000 after purchasing an additional 3,371 shares during the period. Deutsche Bank AG boosted its holdings in Movado Group by 0.8% during the 1st quarter. Deutsche Bank AG now owns 92,226 shares of the company's stock valued at $1,542,000 after acquiring an additional 726 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Movado Group by 14.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 186,468 shares of the company's stock valued at $3,118,000 after acquiring an additional 23,095 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Movado Group during the 1st quarter valued at about $343,000. Finally, GSA Capital Partners LLP purchased a new position in Movado Group during the 1st quarter valued at about $1,426,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MOV shares. BWS Financial restated a "buy" rating and set a $31.50 target price on shares of Movado Group in a report on Friday, August 29th. Zacks Research cut Movado Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 2nd. Finally, Wall Street Zen raised Movado Group from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Movado Group has a consensus rating of "Hold" and an average target price of $31.50.

Movado Group Price Performance

Shares of NYSE MOV traded down $0.21 during midday trading on Tuesday, hitting $19.11. 19,601 shares of the company's stock were exchanged, compared to its average volume of 184,055. Movado Group Inc. has a twelve month low of $12.85 and a twelve month high of $22.20. The company has a market cap of $423.10 million, a PE ratio of 24.81 and a beta of 1.23. The firm's fifty day simple moving average is $16.69 and its 200-day simple moving average is $16.30.

Movado Group (NYSE:MOV - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.08). The business had revenue of $161.83 million for the quarter, compared to analyst estimates of $156.84 million. Movado Group had a return on equity of 5.45% and a net margin of 2.66%. Equities analysts anticipate that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Monday, September 8th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Monday, September 8th. Movado Group's dividend payout ratio (DPR) is currently 181.82%.

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.