Sanctuary Advisors LLC Sells 15,935 Shares of Movado Group, Inc. (NYSE:MOV)

Sanctuary Advisors LLC lessened its holdings in Movado Group, Inc. (NYSE:MOV) by 26.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,213 shares of the company’s stock after selling 15,935 shares during the quarter. Sanctuary Advisors LLC owned approximately 0.20% of Movado Group worth $878,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in Movado Group during the 3rd quarter worth $78,000. FMR LLC increased its stake in shares of Movado Group by 393.0% in the third quarter. FMR LLC now owns 7,400 shares of the company’s stock valued at $138,000 after buying an additional 5,899 shares during the period. Intech Investment Management LLC bought a new position in shares of Movado Group during the third quarter worth about $200,000. Quantbot Technologies LP acquired a new position in shares of Movado Group in the third quarter worth approximately $244,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in Movado Group by 57.0% in the third quarter. Crossmark Global Holdings Inc. now owns 13,303 shares of the company’s stock valued at $248,000 after acquiring an additional 4,828 shares during the last quarter. Institutional investors own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MOV shares. BWS Financial assumed coverage on shares of Movado Group in a report on Thursday, January 2nd. They set a “buy” rating and a $31.50 price target for the company. StockNews.com upgraded shares of Movado Group from a “hold” rating to a “buy” rating in a research report on Monday.

Movado Group Price Performance

Shares of NYSE:MOV opened at $19.59 on Friday. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $29.14. The business’s 50-day moving average is $19.57 and its 200-day moving average is $20.05. The company has a market capitalization of $433.67 million, a price-to-earnings ratio of 18.83 and a beta of 1.00.

Movado Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend was Monday, December 16th. Movado Group’s dividend payout ratio is presently 134.62%.

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.