TIAA CREF Investment Management LLC Boosts Stake in Movado Group, Inc (MOV)

TIAA CREF Investment Management LLC grew its position in shares of Movado Group, Inc (NYSE:MOV) by 36.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 284,241 shares of the company’s stock after acquiring an additional 75,179 shares during the quarter. TIAA CREF Investment Management LLC owned about 1.23% of Movado Group worth $11,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teachers Advisors LLC boosted its position in shares of Movado Group by 42.4% during the 3rd quarter. Teachers Advisors LLC now owns 73,442 shares of the company’s stock valued at $3,077,000 after acquiring an additional 21,884 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in shares of Movado Group by 243.4% during the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 26,100 shares of the company’s stock valued at $1,094,000 after acquiring an additional 18,500 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Movado Group by 91.1% during the 3rd quarter. AQR Capital Management LLC now owns 209,177 shares of the company’s stock valued at $8,764,000 after acquiring an additional 99,695 shares during the last quarter. MetLife Investment Advisors LLC boosted its position in shares of Movado Group by 57.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 12,560 shares of the company’s stock valued at $526,000 after acquiring an additional 4,576 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Movado Group by 220.5% during the 3rd quarter. Pacer Advisors Inc. now owns 3,247 shares of the company’s stock valued at $136,000 after acquiring an additional 2,234 shares during the last quarter. Hedge funds and other institutional investors own 69.83% of the company’s stock.

A number of research firms have recently commented on MOV. Cowen upgraded Movado Group from a “market perform” rating to an “outperform” rating in a research report on Monday, October 8th. Zacks Investment Research downgraded Movado Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th.

Shares of MOV opened at $34.24 on Thursday. The firm has a market capitalization of $767.45 million, a P/E ratio of 17.12 and a beta of 0.23. Movado Group, Inc has a 52-week low of $28.15 and a 52-week high of $53.72. The company has a quick ratio of 2.19, a current ratio of 3.53 and a debt-to-equity ratio of 0.10.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Tuesday, December 4th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. The company had revenue of $208.90 million during the quarter, compared to the consensus estimate of $205.40 million. Movado Group had a return on equity of 12.64% and a net margin of 1.63%. Movado Group’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. On average, sell-side analysts anticipate that Movado Group, Inc will post 2.54 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.34%. Movado Group’s dividend payout ratio is presently 40.00%.

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Movado Group Company Profile

Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.

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Institutional Ownership by Quarter for Movado Group (NYSE:MOV)

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