Empowered Funds LLC Boosts Stock Holdings in Movado Group, Inc. (NYSE:MOV)

Empowered Funds LLC raised its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,680 shares of the company’s stock after buying an additional 4,958 shares during the period. Empowered Funds LLC owned about 0.46% of Movado Group worth $2,021,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MOV. Jane Street Group LLC boosted its position in Movado Group by 347.0% during the third quarter. Jane Street Group LLC now owns 305,112 shares of the company’s stock valued at $5,675,000 after buying an additional 236,847 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Movado Group during the third quarter valued at about $1,343,000. Confluence Investment Management LLC boosted its position in Movado Group by 60.6% during the fourth quarter. Confluence Investment Management LLC now owns 176,057 shares of the company’s stock valued at $3,465,000 after buying an additional 66,422 shares during the period. VELA Investment Management LLC purchased a new stake in Movado Group during the third quarter valued at about $955,000. Finally, Paloma Partners Management Co purchased a new stake in Movado Group during the third quarter valued at about $550,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Trading Down 1.8 %

Movado Group stock opened at $19.50 on Friday. The firm has a 50-day moving average of $19.69 and a 200-day moving average of $20.34. The firm has a market cap of $431.73 million, a P/E ratio of 18.75 and a beta of 1.00. Movado Group, Inc. has a 1-year low of $17.86 and a 1-year high of $29.25.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 7.18%. Movado Group’s dividend payout ratio (DPR) is presently 134.62%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MOV. StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a report on Thursday. BWS Financial began coverage on shares of Movado Group in a report on Thursday, January 2nd. They set a “buy” rating and a $31.50 target price for the company.

Movado Group Company 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.