SOL Capital Management CO Has $217,000 Position in Movado Group Inc. (MOV)
SOL Capital Management CO maintained its position in shares of Movado Group Inc. (NYSE:MOV) during the second quarter, Holdings Channel reports. The fund owned 10,000 shares of the company’s stock at the end of the second quarter. SOL Capital Management CO’s holdings in Movado Group were worth $217,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of MOV. Foundry Partners LLC bought a new position in shares of Movado Group during the second quarter worth approximately $2,257,000. JPMorgan Chase & Co. increased its position in shares of Movado Group by 7.4% in the first quarter. JPMorgan Chase & Co. now owns 844,024 shares of the company’s stock worth $23,236,000 after buying an additional 58,453 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Movado Group by 20.5% in the first quarter. Panagora Asset Management Inc. now owns 196,289 shares of the company’s stock worth $5,404,000 after buying an additional 33,412 shares during the last quarter. Lucus Advisors LLC bought a new position in shares of Movado Group during the second quarter worth approximately $343,000. Finally, BlackRock Fund Advisors increased its position in shares of Movado Group by 1.1% in the first quarter. BlackRock Fund Advisors now owns 1,054,889 shares of the company’s stock worth $29,041,000 after buying an additional 11,921 shares during the last quarter. Hedge funds and other institutional investors own 66.45% of the company’s stock.
Shares of Movado Group Inc. (NYSE:MOV) traded down 1.89% on Monday, reaching $21.30. The company’s stock had a trading volume of 62,416 shares. The stock has a 50-day moving average of $21.83 and a 200 day moving average of $23.47. Movado Group Inc. has a 52 week low of $19.14 and a 52 week high of $30.98. The stock has a market capitalization of $488.84 million, a price-to-earnings ratio of 12.73 and a beta of 0.89.
Movado Group (NYSE:MOV) last announced its earnings results on Thursday, August 25th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.04. Movado Group had a net margin of 6.84% and a return on equity of 9.15%. The business had revenue of $128.10 million for the quarter, compared to the consensus estimate of $135.92 million. During the same quarter in the previous year, the company earned $0.50 EPS. Movado Group’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, analysts expect that Movado Group Inc. will post $1.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Tuesday, September 6th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.44%. Movado Group’s dividend payout ratio is currently 31.14%.
A number of research analysts recently commented on MOV shares. Cowen and Company restated a “market perform” rating and set a $24.00 price objective on shares of Movado Group in a research note on Friday, August 26th. Zacks Investment Research downgraded Movado Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $29.00.
Movado Group Company Profile
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains, department stores and independent jewelers.
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