Movado Group, Inc. (NYSE:MOV) Shares Acquired by Confluence Investment Management LLC

Confluence Investment Management LLC grew its stake in Movado Group, Inc. (NYSE:MOV - Free Report) by 60.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,057 shares of the company's stock after buying an additional 66,422 shares during the quarter. Confluence Investment Management LLC owned approximately 0.80% of Movado Group worth $3,465,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP increased its holdings in 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 acquiring an additional 22,414 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of 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 purchasing an additional 38,038 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Movado Group by 1.7% in the third quarter. Geode Capital Management LLC now owns 355,152 shares of the company's stock worth $6,607,000 after purchasing an additional 5,990 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Movado Group by 14.8% in the second quarter. American Century Companies Inc. now owns 335,533 shares of the company's stock worth $8,341,000 after buying an additional 43,316 shares in the last quarter. Finally, 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 valued at $5,675,000 after buying an additional 236,847 shares during the last quarter. Institutional investors own 72.08% of the company's stock.

Movado Group Stock Performance

Movado Group stock traded up $0.40 during midday trading on Friday, hitting $19.95. 107,591 shares of the company's stock were exchanged, compared to its average volume of 121,796. The company has a market cap of $441.75 million, a PE ratio of 19.18 and a beta of 1.04. The firm has a 50-day moving average of $19.86 and a two-hundred day moving average of $21.53. Movado Group, Inc. has a 12 month low of $17.86 and a 12 month high of $30.03.

Movado Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.02%. The ex-dividend date was Monday, December 16th. Movado Group's payout ratio is 134.62%.

Analyst Upgrades and Downgrades

MOV has been the topic of several research reports. StockNews.com cut shares of Movado Group from a "buy" rating to a "hold" rating in a research report on Friday, September 6th. BWS Financial assumed coverage on shares of Movado Group in a report on Thursday. They issued a "buy" rating and a $31.50 target price 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.