Movado Group, Inc. (NYSE:MOV) Announces Quarterly Dividend of $0.35

Movado Group, Inc. (NYSE:MOV – Get Rating) declared a quarterly dividend on Thursday, May 25th, Zacks reports. Stockholders of record on Wednesday, June 7th will be paid a dividend of 0.35 per share on Wednesday, June 21st. This represents a $1.40 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend is Tuesday, June 6th.

Movado Group has increased its dividend by an average of 20.5% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Movado Group has a dividend payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings.

Movado Group Stock Down 1.2 %

Shares of Movado Group stock opened at $25.65 on Friday. Movado Group has a 52 week low of $24.25 and a 52 week high of $37.92. The business’s fifty day simple moving average is $26.80 and its 200-day simple moving average is $31.19. The firm has a market cap of $567.89 million, a PE ratio of 6.23 and a beta of 1.21.

Movado Group (NYSE:MOV – Get Rating) last posted its earnings results on Thursday, March 23rd. The company reported $1.03 earnings per share (EPS) for the quarter. Movado Group had a return on equity of 20.09% and a net margin of 12.57%. The firm had revenue of $194.27 million for the quarter. As a group, equities analysts expect that Movado Group will post 2.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MOV. StockNews.com began coverage on Movado Group in a research note on Thursday, May 18th. They set a “buy” rating on the stock. TD Cowen cut their price target on Movado Group from $38.00 to $32.00 and set a “market perform” rating on the stock in a report on Friday, March 24th.

Institutional Investors Weigh In On Movado Group

Several large investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its holdings in Movado Group by 0.9% during the 4th quarter. Legal & General Group Plc now owns 38,356 shares of the company’s stock worth $1,237,000 after purchasing an additional 349 shares during the period. US Bancorp DE increased its holdings in shares of Movado Group by 5.9% in the 1st quarter. US Bancorp DE now owns 8,157 shares of the company’s stock valued at $318,000 after acquiring an additional 453 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of 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 last quarter. Two Sigma Advisers LP increased its holdings in shares of Movado Group by 2.3% in the 1st quarter. Two Sigma Advisers LP now owns 27,000 shares of the company’s stock valued at $777,000 after acquiring an additional 600 shares during the last quarter. Finally, Algert Global LLC increased its holdings in shares of Movado Group by 2.9% in the 3rd quarter. Algert Global LLC now owns 23,557 shares of the company’s stock valued at $664,000 after acquiring an additional 673 shares during the last quarter. Hedge funds and other institutional investors own 67.21% of the company’s stock.

Movado Group Company Profile

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Movado Group, Inc engages in the design, manufacture, and distribution of watches. It operates through the Watch and Accessory Brands, and Company Stores segments. The Watch and Accessory Brands segment includes the distribution of watches and, to a lesser extent, jewelry and other accessories, of owned and licensed brands, in addition to revenue generated from after-sales service activities and shipping.