Nisa Investment Advisors LLC Increases Stake in Movado Group, Inc. (NYSE:MOV)

Nisa Investment Advisors LLC lifted its stake in shares of Movado Group, Inc. (NYSE:MOV) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,760 shares of the company’s stock after buying an additional 900 shares during the quarter. Nisa Investment Advisors LLC owned about 0.07% of Movado Group worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas increased its position in shares of Movado Group by 6.7% during the third quarter. Teacher Retirement System of Texas now owns 27,748 shares of the company’s stock valued at $759,000 after buying an additional 1,745 shares during the period. Assenagon Asset Management S.A. boosted its stake in Movado Group by 55.7% during the third quarter. Assenagon Asset Management S.A. now owns 105,968 shares of the company’s stock worth $2,898,000 after acquiring an additional 37,914 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in Movado Group during the fourth quarter worth about $511,000. Boston Partners bought a new stake in Movado Group during the third quarter worth about $2,228,000. Finally, Graham Capital Management L.P. bought a new stake in Movado Group during the third quarter worth about $354,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “buy” rating and set a $41.00 price objective on shares of Movado Group in a research note on Wednesday, March 27th.

Movado Group Price Performance

NYSE:MOV opened at $24.74 on Thursday. Movado Group, Inc. has a one year low of $23.94 and a one year high of $31.44. The company’s 50-day simple moving average is $27.49 and its 200 day simple moving average is $28.22. The firm has a market capitalization of $547.42 million, a P/E ratio of 12.01 and a beta of 1.13.

Movado Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 8th. This represents a $1.40 annualized dividend and a dividend yield of 5.66%. Movado Group’s dividend payout ratio is presently 67.96%.

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.