Empowered Funds LLC Acquires 4,958 Shares of Movado Group, Inc. (NYSE:MOV)

Empowered Funds LLC raised its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,680 shares of the company’s stock after purchasing an additional 4,958 shares during the period. Empowered Funds LLC’s holdings in Movado Group were worth $2,021,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Movado Group during the third quarter valued at approximately $45,000. Point72 DIFC Ltd bought a new position in shares of Movado Group during the third quarter valued at approximately $78,000. FMR LLC increased its stake in shares of Movado Group by 393.0% during the third quarter. FMR LLC now owns 7,400 shares of the company’s stock valued at $138,000 after purchasing an additional 5,899 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of Movado Group during the third quarter valued at approximately $187,000. Finally, Intech Investment Management LLC bought a new stake in shares of Movado Group during the third quarter valued at approximately $200,000. Institutional investors own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MOV shares. BWS Financial started coverage on shares of Movado Group in a report on Thursday, January 2nd. They issued a “buy” rating and a $31.50 price objective for the company. StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a report on Thursday.

Movado Group Stock Down 1.8 %

Shares of NYSE MOV opened at $19.50 on Friday. Movado Group, Inc. has a twelve month low of $17.86 and a twelve month high of $29.25. The firm has a market cap of $431.73 million, a P/E ratio of 18.75 and a beta of 1.00. The company has a 50 day moving average of $19.69 and a 200 day moving average of $20.34.

Movado Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were paid 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 7.18%. 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.