Confluence Investment Management LLC Buys 66,422 Shares of Movado Group, Inc. (NYSE:MOV)

Confluence Investment Management LLC increased its stake in shares of Movado Group, Inc. (NYSE:MOV) by 60.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 176,057 shares of the company’s stock after buying an additional 66,422 shares during the period. Confluence Investment Management LLC’s holdings in Movado Group were worth $3,465,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MOV. Jane Street Group LLC raised 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 during the period. Pacer Advisors Inc. increased its position in Movado Group by 3.9% in the second quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company’s stock worth $25,210,000 after buying an additional 38,038 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Movado Group in the third quarter valued at $521,000. VELA Investment Management LLC bought a new stake in shares of Movado Group in the third quarter valued at $955,000. Finally, American Century Companies Inc. lifted its position in shares of Movado Group by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 335,533 shares of the company’s stock valued at $8,341,000 after buying an additional 43,316 shares during the last quarter. Institutional investors own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

MOV has been the topic of a number of research reports. BWS Financial initiated coverage on Movado Group in a research note on Thursday. They issued a “buy” rating and a $31.50 price objective on the stock. StockNews.com downgraded shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Friday, September 6th.

Movado Group Price Performance

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 stock’s fifty day moving average price is $19.83 and its two-hundred day moving average price is $21.57. The company has a market cap of $432.90 million, a P/E ratio of 18.80 and a beta of 1.04.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were issued 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 yield of 7.16%. Movado Group’s dividend payout ratio (DPR) is 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.