Dimensional Fund Advisors LP reduced its position in Movado Group, Inc (NYSE:MOV) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,418,847 shares of the company’s stock after selling 10,349 shares during the period. Dimensional Fund Advisors LP owned 6.19% of Movado Group worth $40,792,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Movado Group by 6.8% in the fourth quarter. State Street Corp now owns 377,643 shares of the company’s stock worth $10,859,000 after buying an additional 24,137 shares during the last quarter. Comerica Bank boosted its position in Movado Group by 5.1% in the fourth quarter. Comerica Bank now owns 16,318 shares of the company’s stock worth $433,000 after buying an additional 796 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Movado Group by 10.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 24,149 shares of the company’s stock worth $694,000 after buying an additional 2,252 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Movado Group during the fourth quarter worth about $2,149,000. Finally, Cornercap Investment Counsel Inc. purchased a new position in Movado Group during the fourth quarter worth about $581,000. Hedge funds and other institutional investors own 63.35% of the company’s stock.
Movado Group, Inc (NYSE:MOV) traded down 2.26% during midday trading on Friday, reaching $23.75. 96,666 shares of the company traded hands. The stock has a market capitalization of $545.09 million, a P/E ratio of 15.73 and a beta of 0.47. Movado Group, Inc has a one year low of $19.14 and a one year high of $31.95. The company has a 50 day moving average price of $23.51 and a 200-day moving average price of $25.38.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Wednesday, March 29th. Movado Group’s dividend payout ratio (DPR) is 32.10%.
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A number of equities analysts have issued reports on the stock. Cowen and Company decreased their price objective on shares of Movado Group from $27.00 to $25.00 and set a “market perform” rating on the stock in a research report on Monday, March 20th. TheStreet lowered shares of Movado Group from a “b-” rating to a “c+” rating in a research note on Friday, March 10th. Sidoti raised shares of Movado Group from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Monday, January 30th. Finally, Zacks Investment Research lowered shares of Movado Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 24th.
About Movado Group
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.
