Dimensional Fund Advisors LP Sells 17,845 Shares of Movado Group, Inc. (NYSE:MOV)

Dimensional Fund Advisors LP lowered its stake in Movado Group, Inc. (NYSE:MOV) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,213,164 shares of the company’s stock after selling 17,845 shares during the quarter. Dimensional Fund Advisors LP owned about 5.46% of Movado Group worth $30,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Illinois Municipal Retirement Fund lifted its position in shares of Movado Group by 4.3% in the first quarter. Illinois Municipal Retirement Fund now owns 9,525 shares of the company’s stock worth $266,000 after buying an additional 391 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of Movado Group by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 47,992 shares of the company’s stock worth $1,193,000 after acquiring an additional 758 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Movado Group by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,719 shares of the company’s stock valued at $495,000 after acquiring an additional 779 shares during the last quarter. Quadrature Capital Ltd grew its holdings in shares of Movado Group by 7.8% in the first quarter. Quadrature Capital Ltd now owns 12,183 shares of the company’s stock valued at $340,000 after purchasing an additional 880 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in Movado Group in the second quarter worth $25,000. Institutional investors own 72.08% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Michelle Kennedy sold 1,245 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $317,862.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 30.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Movado Group Price Performance

Shares of MOV stock opened at $19.34 on Wednesday. The company has a market cap of $429.54 million, a PE ratio of 10.80 and a beta of 1.00. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $31.44. The stock’s 50 day simple moving average is $22.28 and its two-hundred day simple moving average is $24.71.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Movado Group had a return on equity of 7.23% and a net margin of 5.45%. The company had revenue of $159.31 million during the quarter. During the same period in the previous year, the company posted $0.38 EPS. Equities research analysts expect that Movado Group, Inc. will post 0.95 EPS for the current year.

Movado Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.24%. The ex-dividend date was Monday, September 16th. Movado Group’s dividend payout ratio (DPR) is currently 78.21%.

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.