Confluence Investment Management LLC Has $3.47 Million Stock Holdings in Movado Group, Inc. (NYSE:MOV)

Confluence Investment Management LLC increased its position in shares of Movado Group, Inc. (NYSE:MOV) by 60.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 176,057 shares of the company’s stock after buying an additional 66,422 shares during the quarter. Confluence Investment Management LLC owned about 0.80% of Movado Group worth $3,465,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Royce & Associates LP increased its holdings in shares of Movado Group by 1.6% during the third quarter. Royce & Associates LP now owns 1,456,809 shares of the company’s stock valued at $27,097,000 after acquiring an additional 22,414 shares in the last quarter. Pacer Advisors Inc. increased its stake in Movado Group by 3.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company’s stock valued at $25,210,000 after purchasing an additional 38,038 shares in the last quarter. Geode Capital Management LLC raised its holdings in Movado Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 355,152 shares of the company’s stock worth $6,607,000 after buying an additional 5,990 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Movado Group by 14.8% in the second quarter. American Century Companies Inc. now owns 335,533 shares of the company’s stock valued at $8,341,000 after buying an additional 43,316 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of 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 last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MOV. BWS Financial began coverage on shares of Movado Group in a research report on Thursday. They issued a “buy” rating and a $31.50 price target on the stock. StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Movado Group Stock Performance

Movado Group stock opened at $19.55 on Friday. Movado Group, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.14. The firm’s 50-day simple moving average is $19.83 and its 200 day simple moving average is $21.57. The stock has a market cap of $432.90 million, a PE ratio of 18.80 and a beta of 1.04.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.16%. The ex-dividend date of this dividend was Monday, December 16th. Movado Group’s dividend payout ratio is presently 134.62%.

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.