Vanguard Group Inc. Decreases Stake in Movado Group, Inc. (NYSE:MOV)

Vanguard Group Inc. reduced its stake in Movado Group, Inc. (NYSE:MOV - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,133,492 shares of the company's stock after selling 43,217 shares during the period. Vanguard Group Inc. owned approximately 5.13% of Movado Group worth $31,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MOV. Captrust Financial Advisors boosted its holdings in shares of Movado Group by 89.5% in the 1st quarter. Captrust Financial Advisors now owns 1,082 shares of the company's stock worth $42,000 after acquiring an additional 511 shares in the last quarter. State of Wyoming acquired a new position in Movado Group during the 4th quarter worth $59,000. Amundi lifted its holdings in Movado Group by 108.7% during the 4th quarter. Amundi now owns 1,843 shares of the company's stock worth $62,000 after buying an additional 960 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Movado Group by 2,022.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the company's stock worth $69,000 after buying an additional 2,306 shares in the last quarter. Finally, Denali Advisors LLC acquired a new position in Movado Group during the 3rd quarter worth $109,000. 72.08% of the stock is currently owned by institutional investors.

Movado Group Stock Down 2.2 %

NYSE:MOV traded down $0.57 during trading hours on Friday, hitting $25.19. 178,217 shares of the stock were exchanged, compared to its average volume of 196,974. The company's 50 day moving average is $27.63 and its two-hundred day moving average is $28.22. Movado Group, Inc. has a twelve month low of $23.94 and a twelve month high of $31.44. The company has a market capitalization of $557.38 million, a P/E ratio of 12.23 and a beta of 1.13.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date is Monday, April 8th. Movado Group's dividend payout ratio (DPR) is currently 67.96%.

Analyst Upgrades and Downgrades

Separately, Benchmark reaffirmed a "buy" rating and set a $41.00 price objective on shares of Movado Group in a report on Wednesday, March 27th.

About Movado Group

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.