6,810 Shares in Movado Group, Inc. (NYSE:MOV) Bought by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new position in shares of Movado Group, Inc. (NYSE:MOV) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 6,810 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Movado Group by 0.8% in the third quarter. BlackRock Inc. now owns 2,524,571 shares of the company’s stock valued at $71,142,000 after purchasing an additional 21,110 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Movado Group by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,286,810 shares of the company’s stock valued at $37,021,000 after purchasing an additional 25,264 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Movado Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,219,892 shares of the company’s stock valued at $47,638,000 after purchasing an additional 7,313 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Movado Group by 62.6% in the fourth quarter. Pacer Advisors Inc. now owns 610,588 shares of the company’s stock valued at $18,409,000 after purchasing an additional 235,039 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Movado Group by 0.4% in the second quarter. State Street Corp now owns 578,247 shares of the company’s stock valued at $15,514,000 after purchasing an additional 2,414 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Benchmark reiterated a “buy” rating and issued a $41.00 price objective on shares of Movado Group in a report on Wednesday, March 27th.

Movado Group Price Performance

NYSE:MOV opened at $25.60 on Friday. The firm’s fifty day moving average price is $27.37 and its two-hundred day moving average price is $28.18. The company has a market cap of $566.53 million, a P/E ratio of 12.43 and a beta of 1.13. Movado Group, Inc. has a one year low of $23.94 and a one year high of $31.44.

Movado Group (NYSE:MOV) last announced its earnings results on Tuesday, March 26th. The company reported $0.55 earnings per share (EPS) for the quarter. The company had revenue of $179.62 million during the quarter. Movado Group had a net margin of 6.94% and a return on equity of 9.56%. As a group, equities research analysts expect that Movado Group, Inc. will post 1.25 earnings per share for the current year.

Movado Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th will be given a $0.35 dividend. The ex-dividend date is Monday, April 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.47%. Movado Group’s payout ratio is presently 67.96%.

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.