Deutsche Bank AG Buys 81,764 Shares of Movado Group, Inc. (NYSE:MOV)

Deutsche Bank AG lifted its position in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 839.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,500 shares of the company's stock after purchasing an additional 81,764 shares during the period. Deutsche Bank AG owned about 0.41% of Movado Group worth $1,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in Movado Group during the 4th quarter valued at $47,000. Aigen Investment Management LP purchased a new position in shares of Movado Group in the 4th quarter worth $201,000. Wells Fargo & Company MN raised its holdings in shares of Movado Group by 18.4% in the 4th quarter. Wells Fargo & Company MN now owns 14,372 shares of the company's stock worth $283,000 after purchasing an additional 2,234 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Movado Group during the fourth quarter valued at approximately $284,000. Finally, Inceptionr LLC purchased a new stake in shares of Movado Group in the fourth quarter worth about $460,000. 72.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on MOV. BWS Financial reaffirmed a "buy" rating and issued a $31.50 price target on shares of Movado Group in a report on Monday, April 21st. Wall Street Zen cut shares of Movado Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th.

Movado Group Trading Down 6.9%

Movado Group stock traded down $1.21 during trading hours on Thursday, reaching $16.22. 438,986 shares of the company were exchanged, compared to its average volume of 209,804. Movado Group, Inc. has a 12 month low of $12.85 and a 12 month high of $26.96. The stock has a 50-day moving average of $15.31 and a 200 day moving average of $18.04. The firm has a market cap of $360.57 million, a price-to-earnings ratio of 15.59 and a beta of 1.17.

Movado Group (NYSE:MOV - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31). Movado Group had a net margin of 3.62% and a return on equity of 5.38%. The business had revenue of $131.77 million during the quarter, compared to the consensus estimate of $142.11 million. As a group, research analysts forecast that Movado Group, Inc. will post 1.05 EPS for the current year.

Movado Group Announces Dividend

The business 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 8.63%. Movado Group's dividend payout ratio (DPR) is currently 160.92%.

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.