Everence Capital Management Inc. Invests $205,000 in Movado Group, Inc. (NYSE:MOV)

Everence Capital Management Inc. acquired a new position in shares of Movado Group, Inc. (NYSE:MOV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,810 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank bought a new position in shares of Movado Group during the 2nd quarter worth about $180,000. Captrust Financial Advisors increased its position in shares of Movado Group by 89.5% during the 1st quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock worth $42,000 after purchasing an additional 511 shares in the last quarter. State of Wyoming acquired a new stake in shares of Movado Group during the 4th quarter worth about $59,000. Amundi increased its position in shares of Movado Group by 108.7% during the 4th quarter. Amundi now owns 1,843 shares of the company’s stock worth $62,000 after purchasing an additional 960 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Movado Group by 2,022.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the company’s stock worth $69,000 after purchasing an additional 2,306 shares in the last quarter. 72.08% of the stock is owned by institutional investors.

Movado Group Stock Up 3.1 %

Shares of Movado Group stock opened at $25.60 on Friday. The stock has a market capitalization of $566.53 million, a P/E ratio of 12.43 and a beta of 1.13. The company has a 50-day simple moving average of $27.37 and a 200 day simple moving average of $28.18. Movado Group, Inc. has a 12-month low of $23.94 and a 12-month high of $31.44.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.55 earnings per share for the quarter. The firm had revenue of $179.62 million during the quarter. Movado Group had a net margin of 6.94% and a return on equity of 9.56%. On average, equities analysts anticipate that Movado Group, Inc. will post 1.25 earnings per share for the current year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Monday, April 8th. Movado Group’s payout ratio is presently 67.96%.

Analyst Ratings Changes

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

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.