BNP Paribas Financial Markets Sells 5,729 Shares of Movado Group, Inc. (NYSE:MOV)

BNP Paribas Financial Markets lessened its stake in shares of Movado Group, Inc. (NYSE:MOV) by 50.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,577 shares of the company’s stock after selling 5,729 shares during the period. BNP Paribas Financial Markets’ holdings in Movado Group were worth $104,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MOV. FMR LLC lifted its holdings in Movado Group by 393.0% in the 3rd quarter. FMR LLC now owns 7,400 shares of the company’s stock worth $138,000 after purchasing an additional 5,899 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Movado Group in the third quarter valued at approximately $244,000. Landscape Capital Management L.L.C. lifted its stake in shares of Movado Group by 50.5% in the third quarter. Landscape Capital Management L.L.C. now owns 42,377 shares of the company’s stock worth $788,000 after buying an additional 14,221 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Movado Group during the 3rd quarter worth $200,000. Finally, Empowered Funds LLC grew its stake in Movado Group by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 97,722 shares of the company’s stock valued at $1,818,000 after buying an additional 4,958 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Movado Group Stock Performance

NYSE MOV opened at $19.90 on Thursday. The stock has a 50-day simple moving average of $19.65 and a 200 day simple moving average of $22.00. Movado Group, Inc. has a twelve month low of $17.86 and a twelve month high of $31.44. The stock has a market capitalization of $440.65 million, a PE ratio of 19.13 and a beta of 1.04.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.04%. Movado Group’s dividend payout ratio (DPR) is presently 134.62%.

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.