State Street Corp Sells 256,163 Shares of Movado Group, Inc. (NYSE:MOV)

State Street Corp decreased its stake in shares of Movado Group, Inc. (NYSE:MOV) by 42.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 344,770 shares of the company’s stock after selling 256,163 shares during the quarter. State Street Corp owned about 1.55% of Movado Group worth $6,413,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Innealta Capital LLC bought a new position in Movado Group during the second quarter valued at approximately $25,000. Crossmark Global Holdings Inc. bought a new position in shares of Movado Group during the 2nd quarter valued at approximately $211,000. Banque Cantonale Vaudoise grew its holdings in shares of Movado Group by 117.2% in the second quarter. Banque Cantonale Vaudoise now owns 5,581 shares of the company’s stock valued at $139,000 after purchasing an additional 3,011 shares in the last quarter. Victory Capital Management Inc. increased its position in Movado Group by 105.4% in the second quarter. Victory Capital Management Inc. now owns 15,029 shares of the company’s stock worth $374,000 after purchasing an additional 7,712 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Movado Group in the second quarter worth $689,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

Movado Group Price Performance

Shares of NYSE MOV opened at $19.87 on Friday. Movado Group, Inc. has a 1-year low of $17.86 and a 1-year high of $31.18. The business’s 50 day moving average is $19.76 and its two-hundred day moving average is $21.69. The stock has a market capitalization of $439.98 million, a P/E ratio of 19.11 and a beta of 1.04.

Movado Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.05%. The ex-dividend date of this dividend is Monday, December 16th. Movado Group’s dividend payout ratio is currently 134.62%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

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.