First National Bank of Omaha trimmed its position in Movado Group, Inc. (NYSE:MOV – Get Rating) by 26.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,433 shares of the company’s stock after selling 8,348 shares during the period. First National Bank of Omaha owned approximately 0.10% of Movado Group worth $915,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hussman Strategic Advisors Inc. acquired a new stake in Movado Group in the first quarter valued at $1,015,000. Exchange Traded Concepts LLC lifted its holdings in Movado Group by 141.8% in the first quarter. Exchange Traded Concepts LLC now owns 34,503 shares of the company’s stock valued at $1,347,000 after acquiring an additional 20,235 shares during the period. Tributary Capital Management LLC lifted its holdings in Movado Group by 5.2% in the first quarter. Tributary Capital Management LLC now owns 481,269 shares of the company’s stock valued at $18,794,000 after acquiring an additional 23,605 shares during the period. One Wealth Advisors LLC acquired a new stake in Movado Group in the fourth quarter valued at $270,000. Finally, Acadian Asset Management LLC raised its stake in shares of Movado Group by 25.3% during the 1st quarter. Acadian Asset Management LLC now owns 380,319 shares of the company’s stock worth $14,847,000 after buying an additional 76,793 shares during the last quarter. Institutional investors and hedge funds own 67.26% of the company’s stock.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded Movado Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 1st.
Movado Group Trading Down 0.5 %
Movado Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend is Tuesday, September 6th. Movado Group’s payout ratio is currently 31.11%.
About Movado Group
Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, Calvin Klein, and Scuderia Ferrari.
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