Movado Group, Inc. (NYSE:MOV) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its stake in Movado Group, Inc. (NYSE:MOV) by 33.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 19,601 shares of the company’s stock after selling 10,028 shares during the quarter. Voya Investment Management LLC’s holdings in Movado Group were worth $386,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MOV. Barclays PLC grew its position in Movado Group by 368.7% in the third quarter. Barclays PLC now owns 26,664 shares of the company’s stock valued at $496,000 after acquiring an additional 20,975 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Movado Group by 3.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company’s stock worth $1,340,000 after buying an additional 1,994 shares in the last quarter. Empowered Funds LLC boosted its position in Movado Group by 5.1% in the 4th quarter. Empowered Funds LLC now owns 102,680 shares of the company’s stock valued at $2,021,000 after buying an additional 4,958 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Movado Group by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company’s stock worth $4,320,000 after acquiring an additional 22,578 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Movado Group in the fourth quarter valued at about $804,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MOV. BWS Financial reaffirmed a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research report on Monday, April 21st. StockNews.com lowered Movado Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th.

Movado Group Price Performance

MOV opened at $15.22 on Friday. Movado Group, Inc. has a 12 month low of $12.85 and a 12 month high of $27.80. The stock’s 50 day moving average price is $15.59 and its 200 day moving average price is $18.24. The stock has a market cap of $338.45 million, a P/E ratio of 14.63 and a beta of 1.17.

Movado Group (NYSE:MOV) last released its earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.12. The firm had revenue of $181.48 million for the quarter, compared to analyst estimates of $180.62 million. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. Equities analysts anticipate that Movado Group, Inc. will post 1.05 EPS for the current year.

Movado Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Tuesday, April 22nd were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 9.20%. The ex-dividend date of this dividend was Tuesday, April 22nd. Movado Group’s payout ratio is 160.92%.

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.