Ameriprise Financial Inc. Has $10.81 Million Position in Movado Group, Inc. (NYSE:MOV)

Ameriprise Financial Inc. grew its position in shares of Movado Group, Inc. (NYSE:MOV) by 19.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 549,455 shares of the company’s stock after buying an additional 88,778 shares during the period. Ameriprise Financial Inc. owned approximately 2.48% of Movado Group worth $10,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Movado Group in the fourth quarter valued at about $47,000. Aigen Investment Management LP bought a new position in shares of Movado Group during the fourth quarter worth approximately $201,000. Wells Fargo & Company MN increased its holdings in shares of Movado Group by 18.4% during the fourth quarter. Wells Fargo & Company MN now owns 14,372 shares of the company’s stock worth $283,000 after purchasing an additional 2,234 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Movado Group in the fourth quarter valued at approximately $284,000. Finally, Inceptionr LLC bought a new stake in shares of Movado Group in the fourth quarter valued at approximately $460,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Stock Performance

Shares of MOV stock opened at $17.07 on Tuesday. Movado Group, Inc. has a fifty-two week low of $12.85 and a fifty-two week high of $27.75. The stock’s fifty day moving average price is $15.46 and its two-hundred day moving average price is $18.16. The company has a market cap of $379.59 million, a PE ratio of 16.41 and a beta of 1.17.

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

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Tuesday, April 22nd were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 8.20%. Movado Group’s dividend payout ratio is currently 160.92%.

Analysts Set New Price Targets

A number of research analysts recently commented on MOV shares. StockNews.com downgraded Movado Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. BWS Financial reissued a “buy” rating and issued a $31.50 target price on shares of Movado Group in a report on Monday, April 21st.

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.