Summit Global Investments Has $538,000 Stock Position in Movado Group, Inc. (NYSE:MOV)

Summit Global Investments grew its stake in Movado Group, Inc. (NYSE:MOV) by 34.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,835 shares of the company’s stock after purchasing an additional 4,539 shares during the period. Summit Global Investments owned approximately 0.08% of Movado Group worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Movado Group by 27.3% during the 4th quarter. Russell Investments Group Ltd. now owns 26,410 shares of the company’s stock worth $796,000 after purchasing an additional 5,668 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Movado Group by 50.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,535 shares of the company’s stock worth $137,000 after buying an additional 1,529 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Movado Group in the fourth quarter valued at approximately $205,000. Louisiana State Employees Retirement System acquired a new position in shares of Movado Group in the 4th quarter worth approximately $235,000. Finally, Nisa Investment Advisors LLC grew its position in Movado Group by 6.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,760 shares of the company’s stock worth $475,000 after acquiring an additional 900 shares during the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

Movado Group Stock Up 0.6 %

Shares of NYSE MOV opened at $26.05 on Friday. The company has a market cap of $576.49 million, a price-to-earnings ratio of 12.65 and a beta of 1.14. Movado Group, Inc. has a 12-month low of $23.94 and a 12-month high of $31.44. The firm’s 50-day simple moving average is $26.82 and its 200 day simple moving average is $28.00.

Movado Group (NYSE:MOV) last announced its earnings results on Tuesday, March 26th. The company reported $0.55 earnings per share (EPS) for the quarter. The company had revenue of $179.62 million for the quarter. Movado Group had a net margin of 6.94% and a return on equity of 9.56%. On average, equities analysts expect that Movado Group, Inc. will post 1.25 earnings per share for the current year.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th were given a dividend of $0.35 per share. The ex-dividend date was Monday, April 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.37%. Movado Group’s payout ratio is currently 67.96%.

Analyst Upgrades and Downgrades

Separately, Benchmark reiterated a “buy” rating and issued a $41.00 price objective on shares of Movado Group in a research report on Wednesday, March 27th.

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.