Movado Group (NYSE:MOV) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Movado Group Inc. (NYSE:MOV)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.24 and traded as high as $39.26. Movado Group shares last traded at $38.67, with a volume of 221,329 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings lowered Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Zacks Research raised Movado Group from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Northland Securities set a $35.00 price objective on Movado Group in a research note on Wednesday, May 27th. Finally, BWS Financial raised their price objective on Movado Group from $31.50 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $40.00.

Movado Group Price Performance

The company has a market capitalization of $853.83 million, a P/E ratio of 27.62 and a beta of 0.96. The stock’s fifty day simple moving average is $35.31 and its 200-day simple moving average is $28.24.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. Movado Group had a return on equity of 7.13% and a net margin of 4.70%.The business had revenue of $142.40 million for the quarter, compared to analyst estimates of $135.12 million. During the same period in the previous year, the company posted $0.06 earnings per share. On average, research analysts predict that Movado Group Inc. will post 1.83 earnings per share for the current year.

Movado Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were issued a $0.40 dividend. This is an increase from Movado Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 4.1%. Movado Group’s payout ratio is 114.29%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Movado Group by 5.9% in the third quarter. Vanguard Group Inc. now owns 1,029,220 shares of the company’s stock valued at $19,524,000 after acquiring an additional 57,353 shares during the period. Goldman Sachs Group Inc. increased its position in Movado Group by 3.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 888,244 shares of the company’s stock worth $18,316,000 after acquiring an additional 29,137 shares during the period. Brandes Investment Partners LP raised its stake in Movado Group by 5.6% during the 4th quarter. Brandes Investment Partners LP now owns 704,036 shares of the company’s stock valued at $14,517,000 after purchasing an additional 37,587 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Movado Group by 14.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock valued at $9,712,000 after purchasing an additional 80,109 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Movado Group by 19.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 388,418 shares of the company’s stock valued at $8,009,000 after purchasing an additional 62,278 shares during the period. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Company Profile

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.