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

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

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

Movado Group Trading Down 1.2 %

NYSE MOV opened at $25.65 on Friday. The stock has a market cap of $567.89 million, a PE ratio of 6.23 and a beta of 1.21. Movado Group has a 12 month low of $24.25 and a 12 month high of $37.92. The company’s 50-day moving average price is $26.80 and its 200-day moving average price is $31.19.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MOV shares. StockNews.com assumed coverage on shares of Movado Group in a research note on Thursday, May 18th. They set a “buy” rating on the stock. TD Cowen dropped their target price on Movado Group from $38.00 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, March 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc grew its holdings in Movado Group by 0.9% in the fourth 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 last quarter. US Bancorp DE raised its stake in shares of Movado Group by 5.9% in the first quarter. US Bancorp DE now owns 8,157 shares of the company’s stock worth $318,000 after purchasing an additional 453 shares during the last quarter. Captrust Financial Advisors boosted 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 lifted its position in Movado Group by 2.3% during the first quarter. Two Sigma Advisers LP now owns 27,000 shares of the company’s stock valued at $777,000 after purchasing an additional 600 shares during the period. Finally, Algert Global LLC boosted its position in Movado Group by 2.9% in the 3rd quarter. Algert Global LLC now owns 23,557 shares of the company’s stock worth $664,000 after purchasing an additional 673 shares in the last quarter. Hedge funds and other institutional investors own 67.21% of the company’s stock.

About Movado Group

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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.