Deprince Race & Zollo Inc. Has $5.42 Million Stock Position in Movado Group Inc. $MOV

Deprince Race & Zollo Inc. lowered its holdings in shares of Movado Group Inc. (NYSE:MOV) by 14.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 221,761 shares of the company’s stock after selling 36,717 shares during the period. Deprince Race & Zollo Inc.’s holdings in Movado Group were worth $5,415,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MOV. PNC Financial Services Group Inc. increased its position in Movado Group by 39.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock worth $33,000 after buying an additional 449 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Movado Group by 70.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock valued at $36,000 after buying an additional 724 shares during the last quarter. Comerica Bank lifted its position in shares of Movado Group by 99.0% in the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after buying an additional 888 shares during the last quarter. State of Wyoming boosted its stake in shares of Movado Group by 23.5% during the 4th quarter. State of Wyoming now owns 5,443 shares of the company’s stock worth $112,000 after acquiring an additional 1,036 shares during the period. Finally, Royal Bank of Canada boosted its stake 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 worth $444,000 after acquiring an additional 1,042 shares during the period. Institutional investors own 72.08% of the company’s stock.

Movado Group Stock Down 1.1%

Shares of MOV stock opened at $37.55 on Friday. The firm has a 50 day moving average price of $33.01 and a two-hundred day moving average price of $26.98. The company has a market capitalization of $829.13 million, a PE ratio of 26.82 and a beta of 0.96. Movado Group Inc. has a 12-month low of $14.78 and a 12-month high of $39.85.

Movado Group (NYSE:MOV) last posted its earnings results on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.06 by $0.26. Movado Group had a return on equity of 7.13% and a net margin of 4.70%.The company had revenue of $142.40 million for the quarter, compared to the consensus estimate of $135.12 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. As a group, research analysts expect that Movado Group Inc. will post 1.83 EPS for the current year.

Movado Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were paid a $0.40 dividend. This is a boost from Movado Group’s previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, June 10th. This represents a $1.60 annualized dividend and a yield of 4.3%. Movado Group’s dividend payout ratio is presently 114.29%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Northland Securities set a $35.00 target price on Movado Group in a report on Wednesday, May 27th. Weiss Ratings downgraded Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 28th. BWS Financial lifted their price objective on shares of Movado Group from $31.50 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Zacks Research upgraded shares of Movado Group from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $40.00.

Movado Group Company 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.