Movado Group, Inc. (NYSE:MOV) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its holdings in Movado Group, Inc. (NYSE:MOV - Free Report) by 19.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 549,455 shares of the company's stock after purchasing an additional 88,778 shares during the quarter. Ameriprise Financial Inc. owned 2.48% of Movado Group worth $10,813,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its stake in shares of Movado Group by 202.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock valued at $9,414,000 after acquiring an additional 320,103 shares during the period. VELA Investment Management LLC raised its position in Movado Group by 121.1% in the fourth quarter. VELA Investment Management LLC now owns 113,574 shares of the company's stock valued at $2,235,000 after purchasing an additional 62,214 shares during the period. Proficio Capital Partners LLC acquired a new position in Movado Group during the fourth quarter worth $804,000. AlphaQuest LLC boosted its position in shares of Movado Group by 6,913.9% during the fourth quarter. AlphaQuest LLC now owns 39,909 shares of the company's stock worth $785,000 after buying an additional 39,340 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Movado Group by 43.6% in the fourth quarter. Teacher Retirement System of Texas now owns 112,169 shares of the company's stock valued at $2,207,000 after buying an additional 34,070 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company's stock.

Movado Group Stock Performance

Shares of NYSE:MOV traded down $0.17 during trading on Friday, hitting $16.79. The company's stock had a trading volume of 182,738 shares, compared to its average volume of 208,370. Movado Group, Inc. has a fifty-two week low of $12.85 and a fifty-two week high of $27.31. The business has a 50 day moving average price of $15.39 and a two-hundred day moving average price of $18.09. The company has a market capitalization of $373.36 million, a PE ratio of 16.14 and a beta of 1.17.

Movado Group (NYSE:MOV - Get Free Report) last released its earnings results on Wednesday, April 16th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.39 by $0.12. The firm had revenue of $181.48 million during the quarter, compared to analysts' expectations of $180.62 million. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. As a group, equities analysts expect that Movado Group, Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Tuesday, April 22nd were paid a $0.35 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 8.34%. Movado Group's dividend payout ratio is currently 160.92%.

Analyst Upgrades and Downgrades

MOV has been the subject of a number of research analyst reports. BWS Financial restated a "buy" rating and set a $31.50 target price on shares of Movado Group in a report on Monday, April 21st. Wall Street Zen lowered shares of Movado Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th.

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.