Teachers Retirement System of The State of Kentucky Decreases Stock Position in Movado Group, Inc. (NYSE:MOV)

Teachers Retirement System of The State of Kentucky lowered its position in shares of Movado Group, Inc. (NYSE:MOV) by 40.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,932 shares of the company’s stock after selling 2,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Movado Group were worth $55,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MOV. SG Americas Securities LLC purchased a new stake in Movado Group during the 2nd quarter worth $122,000. Nisa Investment Advisors LLC increased its position in shares of Movado Group by 59.9% during the second quarter. Nisa Investment Advisors LLC now owns 25,247 shares of the company’s stock worth $628,000 after acquiring an additional 9,457 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Movado Group in the second quarter worth about $25,000. Crossmark Global Holdings Inc. purchased a new position in Movado Group in the second quarter valued at about $211,000. Finally, Banque Cantonale Vaudoise grew its stake in Movado Group by 117.2% during the 2nd 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 in the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

Movado Group Trading Down 1.7 %

MOV stock opened at $19.57 on Friday. The stock’s 50 day simple moving average is $19.67 and its 200 day simple moving average is $21.98. Movado Group, Inc. has a 12-month low of $17.86 and a 12-month high of $31.44. The firm has a market cap of $433.28 million, a P/E ratio of 18.82 and a beta of 1.04.

Movado Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.15%. Movado Group’s dividend payout ratio (DPR) is 134.62%.

Wall Street Analyst Weigh In

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

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.