Barclays PLC Purchases 20,975 Shares of Movado Group, Inc. (NYSE:MOV)

Barclays PLC boosted its stake in Movado Group, Inc. (NYSE:MOV) by 368.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,664 shares of the company’s stock after acquiring an additional 20,975 shares during the period. Barclays PLC owned 0.12% of Movado Group worth $496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jane Street Group LLC increased its holdings 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 worth $5,675,000 after purchasing an additional 236,847 shares in the last quarter. Denali Advisors LLC raised its holdings in Movado Group by 101.0% during the second quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock valued at $4,818,000 after acquiring an additional 97,400 shares during the period. Squarepoint Ops LLC lifted its holdings in Movado Group by 467.9% in the 2nd quarter. Squarepoint Ops LLC now owns 99,083 shares of the company’s stock worth $2,463,000 after purchasing an additional 81,637 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Movado Group during the third quarter worth $1,343,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Movado Group in the second quarter worth about $1,497,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MOV shares. BWS Financial started coverage on Movado Group in a research note on Thursday. They set a “buy” rating and a $31.50 price objective on the stock. StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Friday, September 6th.

Movado Group Stock Performance

Shares of NYSE MOV opened at $19.55 on Friday. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $30.14. The company has a market capitalization of $432.90 million, a PE ratio of 18.80 and a beta of 1.04. The company’s fifty day moving average price is $19.83 and its 200 day moving average price is $21.57.

Movado Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.16%. Movado Group’s payout ratio is currently 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.