Texas Permanent School Fund Corp Grows Stock Holdings in Movado Group, Inc. (NYSE:MOV)

Texas Permanent School Fund Corp raised its position in shares of Movado Group, Inc. (NYSE:MOV) by 28.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,583 shares of the company’s stock after buying an additional 3,933 shares during the quarter. Texas Permanent School Fund Corp owned about 0.08% of Movado Group worth $437,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Movado Group during the second quarter valued at about $25,000. Quadrant Capital Group LLC lifted its position in shares of Movado Group by 112.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,060 shares of the company’s stock valued at $32,000 after buying an additional 561 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Movado Group by 1,246.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company’s stock valued at $109,000 after buying an additional 3,616 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Movado Group during the second quarter valued at about $122,000. Finally, EntryPoint Capital LLC lifted its position in shares of Movado Group by 54.1% during the first quarter. EntryPoint Capital LLC now owns 5,293 shares of the company’s stock valued at $148,000 after buying an additional 1,859 shares during the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Michelle Kennedy sold 1,245 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $26.05, for a total value of $32,432.25. Following the transaction, the senior vice president now owns 12,202 shares in the company, valued at approximately $317,862.10. The sale was disclosed in a filing with the SEC, which is available through this link. 30.11% of the stock is owned by corporate insiders.

Movado Group Stock Down 0.2 %

Shares of Movado Group stock opened at $19.86 on Friday. The firm has a market capitalization of $441.09 million, a P/E ratio of 11.09 and a beta of 1.00. The company has a 50 day moving average price of $23.21 and a 200 day moving average price of $25.14. Movado Group, Inc. has a 52 week low of $18.02 and a 52 week high of $31.44.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $159.31 million during the quarter. Movado Group had a net margin of 5.45% and a return on equity of 7.23%. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, research analysts anticipate that Movado Group, Inc. will post 0.95 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.05%. The ex-dividend date of this dividend is Monday, September 16th. Movado Group’s payout ratio is currently 78.21%.

Wall Street Analyst Weigh In

Several research firms have commented on MOV. Benchmark reissued a “buy” rating and set a $41.00 price target on shares of Movado Group in a research report on Friday, May 31st. StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

About Movado Group

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.