Principal Financial Group Inc. Decreases Stock Position in Movado Group, Inc. (NYSE:MOV)

Principal Financial Group Inc. lowered its stake in shares of Movado Group, Inc. (NYSE:MOV) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,970 shares of the company’s stock after selling 5,546 shares during the quarter. Principal Financial Group Inc.’s holdings in Movado Group were worth $2,261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of Movado Group by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,241,890 shares of the company’s stock worth $37,443,000 after buying an additional 19,994 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Movado Group by 62.6% during the fourth quarter. Pacer Advisors Inc. now owns 610,588 shares of the company’s stock worth $18,409,000 after buying an additional 235,039 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Movado Group by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,906 shares of the company’s stock worth $7,173,000 after buying an additional 11,876 shares in the last quarter. American Century Companies Inc. grew its position in shares of Movado Group by 11.1% during the third quarter. American Century Companies Inc. now owns 221,988 shares of the company’s stock worth $6,071,000 after buying an additional 22,112 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Movado Group by 49.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 157,963 shares of the company’s stock worth $4,763,000 after buying an additional 51,995 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Trading Down 2.6 %

Movado Group stock traded down $0.65 during mid-day trading on Friday, reaching $24.07. The company’s stock had a trading volume of 23,195 shares, compared to its average volume of 168,756. Movado Group, Inc. has a twelve month low of $23.92 and a twelve month high of $31.44. The business has a 50 day moving average price of $25.95 and a 200-day moving average price of $27.28. The firm has a market cap of $534.59 million, a price-to-earnings ratio of 13.81 and a beta of 1.04.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.13 earnings per share for the quarter. Movado Group had a net margin of 6.09% and a return on equity of 8.18%. The business had revenue of $136.67 million for the quarter. On average, equities analysts expect that Movado Group, Inc. will post 1.25 EPS for the current fiscal year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend was Wednesday, June 12th. Movado Group’s dividend payout ratio is currently 78.21%.

Analyst Upgrades and Downgrades

Separately, Benchmark reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Movado Group in a report on Friday, May 31st.

Movado Group Company Profile

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.