Confluence Investment Management LLC Sells 4,747 Shares of Movado Group, Inc. (NYSE:MOV)

Confluence Investment Management LLC trimmed its position in shares of Movado Group, Inc. (NYSE:MOV) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 112,158 shares of the company’s stock after selling 4,747 shares during the quarter. Confluence Investment Management LLC’s holdings in Movado Group were worth $2,788,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MOV. Dimensional Fund Advisors LP boosted its stake in Movado Group by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,241,890 shares of the company’s stock valued at $37,443,000 after acquiring an additional 19,994 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Movado Group by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,906 shares of the company’s stock worth $7,173,000 after acquiring an additional 11,876 shares during the period. Boston Partners raised its holdings in shares of Movado Group by 60.7% during the fourth quarter. Boston Partners now owns 130,961 shares of the company’s stock worth $3,948,000 after acquiring an additional 49,486 shares during the period. Denali Advisors LLC raised its holdings in shares of Movado Group by 195.7% during the first quarter. Denali Advisors LLC now owns 96,400 shares of the company’s stock worth $2,692,000 after acquiring an additional 63,800 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Movado Group by 8.1% during the first quarter. Empowered Funds LLC now owns 86,104 shares of the company’s stock worth $2,405,000 after acquiring an additional 6,475 shares during the period. 72.08% of the stock is owned by institutional investors.

Movado Group Price Performance

Movado Group stock traded down $0.80 during midday trading on Friday, hitting $24.27. The company’s stock had a trading volume of 99,427 shares, compared to its average volume of 111,856. The company has a 50-day moving average price of $25.41 and a two-hundred day moving average price of $26.61. The company has a market cap of $539.04 million, a price-to-earnings ratio of 13.56 and a beta of 1.04. Movado Group, Inc. has a 1-year low of $23.92 and a 1-year high of $31.44.

Movado Group (NYSE:MOV) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $136.67 million during the quarter. Movado Group had a net margin of 6.09% and a return on equity of 8.18%. Sell-side analysts forecast that Movado Group, Inc. will post 1.25 EPS for the current year.

Movado Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, June 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.77%. Movado Group’s payout ratio is presently 78.21%.

Insider Activity at Movado Group

In other news, SVP Michelle Kennedy sold 1,245 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $26.05, for a total value of $32,432.25. Following the completion of the sale, the senior vice president now owns 12,202 shares in the company, valued at $317,862.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 30.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Benchmark reiterated a “buy” rating and issued a $41.00 price target on shares of Movado Group in a research note on Friday, May 31st.

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.