Movado Group, Inc. (NYSE:MOV – Get Rating) announced a quarterly dividend on Thursday, May 26th, Zacks reports. Stockholders of record on Wednesday, June 8th will be paid a dividend of 0.35 per share on Wednesday, June 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Tuesday, June 7th.
Movado Group has increased its dividend by an average of 5.9% per year over the last three years and has raised its dividend every year for the last 1 years. Movado Group has a payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings.
MOV opened at $36.61 on Friday. The stock has a market capitalization of $833.39 million, a P/E ratio of 9.44 and a beta of 1.15. Movado Group has a 12 month low of $27.69 and a 12 month high of $48.66. The firm’s fifty day simple moving average is $36.63 and its 200 day simple moving average is $38.30.
In other news, Director Ann Kirschner sold 3,800 shares of the stock in a transaction on Monday, April 4th. The shares were sold at an average price of $39.41, for a total value of $149,758.00. Following the completion of the sale, the director now directly owns 13,897 shares of the company’s stock, valued at $547,680.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard D. Isserman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $37.86, for a total transaction of $189,300.00. Following the transaction, the director now directly owns 16,962 shares of the company’s stock, valued at $642,181.32. The disclosure for this sale can be found here. Company insiders own 28.42% of the company’s stock.
A number of large investors have recently made changes to their positions in MOV. Morgan Stanley boosted its position in Movado Group by 64.0% during the 2nd quarter. Morgan Stanley now owns 166,782 shares of the company’s stock valued at $5,248,000 after acquiring an additional 65,102 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Movado Group in the 3rd quarter worth $230,000. Royal Bank of Canada raised its stake in Movado Group by 4.3% in the 3rd quarter. Royal Bank of Canada now owns 18,229 shares of the company’s stock worth $574,000 after acquiring an additional 752 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Movado Group in the third quarter worth about $239,000. Finally, BNP Paribas Arbitrage SA boosted its position in Movado Group by 85.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 22,407 shares of the company’s stock worth $706,000 after purchasing an additional 10,325 shares in the last quarter. 65.26% of the stock is currently owned by institutional investors.
MOV has been the topic of a number of recent analyst reports. StockNews.com raised Movado Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 17th. Zacks Investment Research raised Movado Group from a “hold” rating to a “strong-buy” rating and set a $46.00 target price for the company in a report on Thursday, March 31st.
About Movado Group (Get Rating)
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, Calvin Klein, and Scuderia Ferrari.
- Get a free copy of the StockNews.com research report on Movado Group (MOV)
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