Fmr LLC Grows Position in Movado Group, Inc. (NYSE:MOV)

Fmr LLC raised its stake in shares of Movado Group, Inc. (NYSE:MOV) by 393.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,400 shares of the company’s stock after purchasing an additional 5,899 shares during the period. Fmr LLC’s holdings in Movado Group were worth $138,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Movado Group during the 3rd quarter valued at $244,000. Landscape Capital Management L.L.C. lifted its stake in shares of Movado Group by 50.5% during the third quarter. Landscape Capital Management L.L.C. now owns 42,377 shares of the company’s stock worth $788,000 after purchasing an additional 14,221 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Movado Group during the third quarter worth about $200,000. Empowered Funds LLC boosted its position in shares of Movado Group by 5.3% in the third quarter. Empowered Funds LLC now owns 97,722 shares of the company’s stock worth $1,818,000 after buying an additional 4,958 shares during the period. Finally, Royce & Associates LP grew its stake in shares of Movado Group by 1.6% in the third quarter. Royce & Associates LP now owns 1,456,809 shares of the company’s stock valued at $27,097,000 after buying an additional 22,414 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Movado Group Trading Up 1.2 %

Shares of NYSE:MOV opened at $19.81 on Monday. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $31.18. The firm has a fifty day moving average price of $19.70 and a 200 day moving average price of $21.90. The stock has a market capitalization of $438.65 million, a PE ratio of 19.05 and a beta of 1.04.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.07%. Movado Group’s payout ratio is 134.62%.

Analysts Set New Price Targets

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

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.