American Century Companies Inc. Buys 43,316 Shares of Movado Group, Inc. (NYSE:MOV)

American Century Companies Inc. raised its stake in Movado Group, Inc. (NYSE:MOV) by 14.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 335,533 shares of the company’s stock after acquiring an additional 43,316 shares during the quarter. American Century Companies Inc. owned about 1.51% of Movado Group worth $8,341,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MOV. Charles Schwab Investment Management Inc. grew its position in shares of Movado Group by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,906 shares of the company’s stock valued at $7,173,000 after purchasing an additional 11,876 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Movado Group by 1.6% during the 4th 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 during the period. Quadrant Capital Group LLC lifted its holdings 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 worth $32,000 after buying an additional 561 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of Movado Group in the first quarter valued at about $3,265,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Movado Group by 1,246.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company’s stock valued at $109,000 after acquiring an additional 3,616 shares in the last quarter. 72.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Benchmark reissued a “buy” rating and issued a $41.00 price objective on shares of Movado Group in a report on Friday, May 31st. StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a research note on Friday, September 6th.

Movado Group Stock Down 3.4 %

MOV stock opened at $19.18 on Tuesday. Movado Group, Inc. has a 52 week low of $18.02 and a 52 week high of $31.44. The business has a 50-day simple moving average of $23.10 and a 200 day simple moving average of $25.06. The company has a market cap of $425.99 million, a PE ratio of 10.72 and a beta of 1.00.

Movado Group (NYSE:MOV) last issued its earnings results on Thursday, September 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm 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 previous year, the firm earned $0.38 EPS. On average, analysts anticipate that Movado Group, Inc. will post 0.95 EPS for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date of this dividend is Monday, September 16th. Movado Group’s dividend payout ratio is presently 78.21%.

Insider Activity

In related news, SVP Michelle Kennedy sold 1,245 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total transaction of $32,432.25. Following the completion of the sale, the senior vice president now directly 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. Corporate insiders own 30.11% of the company’s stock.

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.