Pitcairn Co. Buys 407 Shares of Movado Group, Inc. (NYSE:MOV)

Pitcairn Co. increased its position in shares of Movado Group, Inc. (NYSE:MOV) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,065 shares of the company’s stock after acquiring an additional 407 shares during the quarter. Pitcairn Co. owned about 0.07% of Movado Group worth $538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Movado Group by 2.5% during the second quarter. Envestnet Asset Management Inc. now owns 57,403 shares of the company’s stock worth $1,806,000 after purchasing an additional 1,374 shares during the period. American Century Companies Inc. acquired a new stake in Movado Group during the 2nd quarter worth approximately $991,000. Swiss National Bank acquired a new stake in Movado Group during the 2nd quarter worth approximately $1,095,000. Sei Investments Co. acquired a new position in Movado Group in the 2nd quarter valued at $805,000. Finally, HighTower Advisors LLC acquired a new position in shares of Movado Group during the 2nd quarter worth $694,000. 64.67% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research upgraded Movado Group from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, December 1st.

In other news, CEO Efraim Grinberg sold 1,200 shares of Movado Group stock in a transaction that occurred on Wednesday, January 5th. The shares were sold at an average price of $41.95, for a total transaction of $50,340.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexander Grinberg sold 4,935 shares of Movado Group stock in a transaction that occurred on Monday, January 3rd. The shares were sold at an average price of $43.05, for a total transaction of $212,451.75. The disclosure for this sale can be found here. Insiders sold 102,040 shares of company stock worth $4,354,986 over the last three months. 28.42% of the stock is owned by insiders.

MOV stock opened at $38.88 on Friday. The business has a 50 day moving average of $40.72 and a 200-day moving average of $35.32. Movado Group, Inc. has a 12-month low of $19.45 and a 12-month high of $48.66. The firm has a market cap of $890.74 million, a PE ratio of 10.13 and a beta of 1.15.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Tuesday, November 23rd. The company reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.35. The firm had revenue of $217.75 million for the quarter. Movado Group had a return on equity of 18.72% and a net margin of 12.84%. During the same period last year, the business posted $0.70 earnings per share. On average, equities research analysts anticipate that Movado Group, Inc. will post 3.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 17th. Investors of record on Friday, December 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 2nd. This is a boost from Movado Group’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. Movado Group’s dividend payout ratio (DPR) is presently 26.04%.

Movado Group Profile

Movado Group, Inc engages in the design, manufacture, and distribution of watches. It operates through Watch and Accessory Brands and Company Stores segments. The Watch and Accessory Brands segment include distribution of watches and, to a lesser extent, jewelry and other accessories, of owned and licensed brands, in addition to revenue generated from after-sales service activities and shipping.

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Institutional Ownership by Quarter for Movado Group (NYSE:MOV)

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