26,244 Shares in Movado Group Inc. $MOV Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of Movado Group Inc. (NYSE:MOV) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 26,244 shares of the company’s stock, valued at approximately $1,032,000. Public Employees Retirement System of Ohio owned about 0.12% of Movado Group at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MOV. Royal Bank of Canada grew its position in shares of Movado Group by 4.1% during the 1st quarter. Royal Bank of Canada now owns 26,524 shares of the company’s stock valued at $444,000 after acquiring an additional 1,042 shares during the period. AQR Capital Management LLC lifted its position in Movado Group by 26.5% during the first quarter. AQR Capital Management LLC now owns 129,746 shares of the company’s stock valued at $2,169,000 after purchasing an additional 27,182 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Movado Group by 212.8% during the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock valued at $11,226,000 after purchasing an additional 456,727 shares in the last quarter. Empowered Funds LLC grew its holdings in Movado Group by 5.5% during the first quarter. Empowered Funds LLC now owns 108,377 shares of the company’s stock valued at $1,812,000 after purchasing an additional 5,697 shares during the period. Finally, Jane Street Group LLC increased its position in Movado Group by 11.4% in the first quarter. Jane Street Group LLC now owns 104,188 shares of the company’s stock worth $1,742,000 after buying an additional 10,670 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors.

Movado Group Stock Performance

MOV opened at $33.06 on Wednesday. The stock has a market capitalization of $737.66 million, a price-to-earnings ratio of 18.37 and a beta of 0.92. The company has a fifty day moving average of $36.62 and a 200 day moving average of $31.73. Movado Group Inc. has a fifty-two week low of $17.24 and a fifty-two week high of $40.50.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.35 by $0.19. The business had revenue of $169.75 million for the quarter, compared to analysts’ expectations of $164.20 million. Movado Group had a net margin of 6.00% and a return on equity of 8.49%. On average, equities research analysts forecast that Movado Group Inc. will post 1.94 earnings per share for the current year.

Movado Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, September 8th. Movado Group’s dividend payout ratio (DPR) is currently 88.89%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MOV. Wall Street Zen cut Movado Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. BWS Financial restated a “buy” rating and set a $45.00 target price on shares of Movado Group in a research note on Tuesday, September 1st. Northland Securities set a $35.00 price target on shares of Movado Group in a report on Wednesday, May 27th. Zacks Research upgraded shares of Movado Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Movado Group in a research note on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $40.00.

Movado Group Profile

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.