JPMorgan Chase & Co. Increases Position in Movado Group, Inc. (NYSE:MOV)

JPMorgan Chase & Co. increased its stake in shares of Movado Group, Inc. (NYSE:MOV) by 36.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,413 shares of the company’s stock after buying an additional 27,719 shares during the period. JPMorgan Chase & Co. owned about 0.47% of Movado Group worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of Movado Group by 368.7% during the 3rd quarter. Barclays PLC now owns 26,664 shares of the company’s stock worth $496,000 after buying an additional 20,975 shares during the last quarter. Geode Capital Management LLC raised its position in Movado Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 355,152 shares of the company’s stock worth $6,607,000 after acquiring an additional 5,990 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Movado Group in the third quarter valued at about $364,000. Confluence Investment Management LLC grew its position in shares of Movado Group by 60.6% in the fourth quarter. Confluence Investment Management LLC now owns 176,057 shares of the company’s stock valued at $3,465,000 after purchasing an additional 66,422 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Movado Group by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company’s stock worth $1,340,000 after purchasing an additional 1,994 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MOV has been the topic of a number of recent research reports. BWS Financial reaffirmed a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research note on Monday. StockNews.com upgraded Movado Group from a “hold” rating to a “buy” rating in a research report on Tuesday.

Movado Group Stock Performance

Shares of MOV opened at $14.05 on Friday. Movado Group, Inc. has a 1 year low of $12.85 and a 1 year high of $27.80. The company’s 50 day simple moving average is $16.75 and its 200 day simple moving average is $18.59. The company has a market capitalization of $311.11 million, a price-to-earnings ratio of 13.51 and a beta of 0.92.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Wednesday, April 16th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.12. The business had revenue of $181.48 million for the quarter, compared to analysts’ expectations of $180.62 million. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. Equities analysts expect that Movado Group, Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Tuesday, April 22nd will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 9.96%. The ex-dividend date is Tuesday, April 22nd. Movado Group’s dividend payout ratio (DPR) is 160.92%.

About Movado Group

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.