Geode Capital Management LLC Acquires 5,990 Shares of Movado Group, Inc. (NYSE:MOV)

Geode Capital Management LLC boosted its position in Movado Group, Inc. (NYSE:MOV) by 1.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 355,152 shares of the company’s stock after purchasing an additional 5,990 shares during the quarter. Geode Capital Management LLC owned approximately 1.60% of Movado Group worth $6,607,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Barclays PLC boosted its holdings in Movado Group by 368.7% in the third quarter. Barclays PLC now owns 26,664 shares of the company’s stock worth $496,000 after acquiring an additional 20,975 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Movado Group by 135.6% during the third quarter. XTX Topco Ltd now owns 20,462 shares of the company’s stock valued at $381,000 after buying an additional 11,776 shares during the last quarter. Jane Street Group LLC increased its position in shares of Movado Group by 347.0% in the 3rd quarter. Jane Street Group LLC now owns 305,112 shares of the company’s stock valued at $5,675,000 after acquiring an additional 236,847 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Movado Group in the 3rd quarter valued at $314,000. Finally, Point72 DIFC Ltd purchased a new position in Movado Group in the 3rd quarter worth $78,000. 72.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BWS Financial started coverage on Movado Group in a research note on Thursday. They issued a “buy” rating and a $31.50 price objective for the company. StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Movado Group Stock Performance

NYSE MOV opened at $19.95 on Friday. The firm has a market capitalization of $441.75 million, a P/E ratio of 19.18 and a beta of 1.04. The stock has a 50-day simple moving average of $19.86 and a two-hundred day simple moving average of $21.53. Movado Group, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.03.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date of this dividend was Monday, December 16th. Movado Group’s payout ratio is presently 134.62%.

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.