Geode Capital Management LLC Increases Position in Movado Group, Inc. (NYSE:MOV)

Geode Capital Management LLC boosted its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 1.7% during the third quarter, HoldingsChannel.com reports. The firm owned 355,152 shares of the company’s stock after purchasing an additional 5,990 shares during the period. Geode Capital Management LLC’s holdings in Movado Group were worth $6,607,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. nVerses Capital LLC acquired a new position in shares of Movado Group during the 3rd quarter worth approximately $45,000. Point72 DIFC Ltd purchased a new stake in Movado Group in the 3rd quarter worth $78,000. FMR LLC raised its position in Movado Group by 393.0% during the third quarter. FMR LLC now owns 7,400 shares of the company’s stock worth $138,000 after acquiring an additional 5,899 shares during the period. Ballentine Partners LLC purchased a new position in Movado Group during the third quarter valued at $187,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Movado Group in the third quarter valued at about $200,000. 72.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. BWS Financial started coverage on Movado Group in a research report on Thursday. They set a “buy” rating and a $31.50 price target for the company.

Movado Group Trading Up 2.0 %

NYSE:MOV opened at $19.95 on Friday. The company has a market cap of $441.75 million, a P/E ratio of 19.18 and a beta of 1.04. Movado Group, Inc. has a twelve month low of $17.86 and a twelve month high of $30.03. The company’s 50-day moving average price is $19.86 and its 200-day moving average price is $21.53.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.02%. Movado Group’s dividend payout ratio (DPR) is presently 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.