Movado Group, Inc. (NYSE:MOV) Shares Sold by Citigroup Inc.

Citigroup Inc. lessened its stake in Movado Group, Inc. (NYSE:MOVFree Report) by 55.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,171 shares of the company’s stock after selling 7,588 shares during the period. Citigroup Inc.’s holdings in Movado Group were worth $169,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its position in Movado Group by 89.5% in the 1st quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock valued at $42,000 after acquiring an additional 511 shares during the period. State of Wyoming purchased a new stake in Movado Group in the 4th quarter valued at approximately $59,000. Amundi boosted its holdings in Movado Group by 108.7% in the 4th quarter. Amundi now owns 1,843 shares of the company’s stock valued at $62,000 after purchasing an additional 960 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Movado Group by 2,022.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the company’s stock valued at $69,000 after purchasing an additional 2,306 shares in the last quarter. Finally, Denali Advisors LLC purchased a new stake in Movado Group in the 3rd quarter valued at approximately $109,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Movado Group in a report on Wednesday.

View Our Latest Stock Report on Movado Group

Movado Group Trading Up 1.0 %

Shares of MOV opened at $27.93 on Friday. The stock’s 50 day moving average is $27.88 and its two-hundred day moving average is $28.19. The firm has a market capitalization of $616.69 million, a PE ratio of 13.56 and a beta of 1.13. Movado Group, Inc. has a twelve month low of $23.94 and a twelve month high of $31.44.

Movado Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Monday, April 8th. Movado Group’s dividend payout ratio (DPR) is 67.96%.

About Movado Group

(Free Report)

Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.

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Institutional Ownership by Quarter for Movado Group (NYSE:MOV)

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