JPMorgan Chase & Co. Has $1.41 Million Stock Position in Movado Group, Inc. (NYSE:MOV)

JPMorgan Chase & Co. lessened its stake in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 43.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,694 shares of the company's stock after selling 57,545 shares during the period. JPMorgan Chase & Co. owned about 0.34% of Movado Group worth $1,408,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in shares of Movado Group during the 3rd quarter worth approximately $45,000. Point72 DIFC Ltd acquired a new position in Movado Group during the third quarter worth $78,000. FMR LLC raised its position in Movado Group by 393.0% during the third quarter. FMR LLC now owns 7,400 shares of the company's stock worth $138,000 after acquiring an additional 5,899 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Movado Group in the third quarter valued at $187,000. Finally, Intech Investment Management LLC bought a new position in shares of Movado Group in the 3rd quarter valued at about $200,000. 72.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, BWS Financial initiated coverage on shares of Movado Group in a report on Thursday, January 2nd. They issued a "buy" rating and a $31.50 target price on the stock.

Movado Group Stock Performance

Shares of NYSE MOV traded down $0.05 during trading hours on Friday, reaching $19.46. 84,036 shares of the stock were exchanged, compared to its average volume of 118,329. The firm has a market capitalization of $430.93 million, a price-to-earnings ratio of 18.72 and a beta of 1.03. The stock's fifty day simple moving average is $19.85 and its 200 day simple moving average is $20.94. Movado Group, Inc. has a 52 week low of $17.86 and a 52 week high of $29.45.

Movado Group Announces Dividend

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

Movado Group Company 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.