North Star Investment Management Corp. Buys 37,000 Shares of Movado Group Inc. $MOV

North Star Investment Management Corp. raised its position in shares of Movado Group Inc. (NYSE:MOV) by 39.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,025 shares of the company’s stock after purchasing an additional 37,000 shares during the period. North Star Investment Management Corp.’s holdings in Movado Group were worth $3,200,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MOV. PNC Financial Services Group Inc. lifted its position in shares of Movado Group by 39.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after buying an additional 449 shares during the last quarter. Comerica Bank increased its holdings in Movado Group by 99.0% in the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after acquiring an additional 888 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Movado Group by 70.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock worth $36,000 after acquiring an additional 724 shares during the last quarter. State of Wyoming bought a new stake in Movado Group in the 2nd quarter valued at about $40,000. Finally, Laurel Wealth Advisors LLC bought a new stake in Movado Group in the 4th quarter valued at about $42,000. 72.08% of the stock is currently owned by institutional investors.

Movado Group Price Performance

Movado Group stock opened at $39.37 on Monday. The firm has a market capitalization of $869.29 million, a P/E ratio of 28.12 and a beta of 0.97. Movado Group Inc. has a one year low of $14.78 and a one year high of $39.63. The business has a fifty day moving average price of $32.19 and a 200-day moving average price of $26.50.

Movado Group (NYSE:MOV) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. The company had revenue of $142.40 million for the quarter, compared to analyst estimates of $135.12 million. Movado Group had a return on equity of 7.13% and a net margin of 4.70%.During the same period in the previous year, the company posted $0.06 EPS. Sell-side analysts expect that Movado Group Inc. will post 1.83 earnings per share for the current fiscal year.

Movado Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.40 per share. This is a boost from Movado Group’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Wednesday, June 10th. Movado Group’s dividend payout ratio (DPR) is currently 114.29%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Northland Securities set a $35.00 price objective on shares of Movado Group in a report on Wednesday, May 27th. Weiss Ratings downgraded shares of Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. BWS Financial boosted their price target on shares of Movado Group from $31.50 to $45.00 and gave the company 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 research note on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $40.00.

Movado Group 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.