JPMorgan Chase & Co. Sells 57,545 Shares of Movado Group, Inc. (NYSE:MOV)

JPMorgan Chase & Co. lessened its stake in shares of Movado Group, Inc. (NYSE:MOV) by 43.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,694 shares of the company’s stock after selling 57,545 shares during the period. JPMorgan Chase & Co. owned approximately 0.34% of Movado Group worth $1,408,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Royce & Associates LP lifted its stake in shares of Movado Group by 1.6% in the 3rd quarter. Royce & Associates LP now owns 1,456,809 shares of the company’s stock valued at $27,097,000 after purchasing an additional 22,414 shares during the period. Geode Capital Management LLC boosted its stake in Movado Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 355,152 shares of the company’s stock worth $6,607,000 after buying an additional 5,990 shares during the period. Jane Street Group LLC boosted its stake in Movado Group by 347.0% during the third quarter. Jane Street Group LLC now owns 305,112 shares of the company’s stock worth $5,675,000 after buying an additional 236,847 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Movado Group by 3.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 112,325 shares of the company’s stock valued at $2,089,000 after purchasing an additional 4,162 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Movado Group by 467.9% in the second quarter. Squarepoint Ops LLC now owns 99,083 shares of the company’s stock valued at $2,463,000 after purchasing an additional 81,637 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Movado Group Trading Up 1.1 %

Shares of MOV opened at $19.48 on Friday. The firm has a market cap of $431.22 million, a PE ratio of 18.73 and a beta of 1.03. The company’s 50 day simple moving average is $19.85 and its 200-day simple moving average is $20.98. Movado Group, Inc. has a 12-month low of $17.86 and a 12-month high of $29.45.

Movado Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.19%. Movado Group’s dividend payout ratio (DPR) is presently 134.62%.

Analyst Upgrades and Downgrades

Separately, BWS Financial began coverage on shares of Movado Group in a report on Thursday, January 2nd. They set a “buy” rating and a $31.50 price objective on the stock.

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.