Movado Group, Inc. (NYSE:MOV) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its holdings in Movado Group, Inc. (NYSE:MOV) by 12.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 196,706 shares of the company’s stock after selling 27,054 shares during the period. Charles Schwab Investment Management Inc. owned about 0.89% of Movado Group worth $3,659,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Movado Group during the second quarter valued at $122,000. Nisa Investment Advisors LLC boosted its stake in Movado Group by 59.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,247 shares of the company’s stock valued at $628,000 after purchasing an additional 9,457 shares during the period. Innealta Capital LLC acquired a new position in Movado Group during the 2nd quarter valued at about $25,000. Crossmark Global Holdings Inc. bought a new position in Movado Group in the 2nd quarter worth about $211,000. Finally, Banque Cantonale Vaudoise increased its stake in shares of Movado Group by 117.2% in the second quarter. Banque Cantonale Vaudoise now owns 5,581 shares of the company’s stock valued at $139,000 after purchasing an additional 3,011 shares during the period. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Movado Group Stock Performance

NYSE:MOV opened at $20.89 on Friday. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $31.44. The business has a fifty day moving average of $19.58 and a 200-day moving average of $22.13. The stock has a market cap of $464.22 million, a price-to-earnings ratio of 20.09 and a beta of 1.04.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 6.70%. Movado Group’s payout ratio is 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.