Fmr LLC Has $138,000 Position in Movado Group, Inc. (NYSE:MOV)

Fmr LLC lifted its position in Movado Group, Inc. (NYSE:MOV) by 393.0% during the third quarter, HoldingsChannel.com reports. The fund owned 7,400 shares of the company’s stock after purchasing an additional 5,899 shares during the period. Fmr LLC’s holdings in Movado Group were worth $138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Movado Group during the second quarter worth about $25,000. AQR Capital Management LLC lifted its stake in Movado Group by 1.4% in the 2nd quarter. AQR Capital Management LLC now owns 93,643 shares of the company’s stock valued at $2,328,000 after acquiring an additional 1,255 shares in the last quarter. Victory Capital Management Inc. boosted its position in Movado Group by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 16,330 shares of the company’s stock worth $304,000 after acquiring an additional 1,301 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Movado Group by 6.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 34,448 shares of the company’s stock worth $856,000 after acquiring an additional 1,941 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Movado Group in the third quarter valued at approximately $45,000. Institutional investors own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

Movado Group Price Performance

Movado Group stock opened at $19.81 on Monday. Movado Group, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $31.18. The firm has a market capitalization of $438.65 million, a PE ratio of 19.05 and a beta of 1.04. The company’s 50-day moving average is $19.70 and its 200-day moving average is $21.90.

Movado Group Announces Dividend

The company also recently announced 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date of this dividend is Monday, December 16th. Movado Group’s dividend payout ratio is currently 134.62%.

Movado Group 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.