Movado Group, Inc (NYSE:MOV) was up 5.9% during mid-day trading on Monday after the company announced a dividend. The company traded as high as $25.20 and last traded at $25.00, with a volume of 725,137 shares trading hands. The stock had previously closed at $23.60.
The newly announced dividend which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.08%. Movado Group’s dividend payout ratio (DPR) is presently 32.10%.
Several research analysts have issued reports on MOV shares. Zacks Investment Research cut shares of Movado Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 24th. Sidoti set a $34.00 target price on shares of Movado Group and gave the stock a “buy” rating in a report on Tuesday, November 22nd. TheStreet raised shares of Movado Group from a “hold” rating to a “buy” rating in a report on Wednesday, December 7th. Finally, Cowen and Company decreased their target price on shares of Movado Group to $25.00 in a report on Monday. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Movado Group presently has an average rating of “Hold” and an average price target of $31.00.
The company has a 50 day moving average price of $24.83 and a 200 day moving average price of $25.02. The company has a market capitalization of $573.30 million, a PE ratio of 15.38 and a beta of 0.47.
Movado Group (NYSE:MOV) last posted its quarterly earnings results on Monday, March 20th. The company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.01. The company earned $130.80 million during the quarter, compared to the consensus estimate of $137.11 million. Movado Group had a return on equity of 8.97% and a net margin of 6.67%. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. Equities research analysts anticipate that Movado Group, Inc will post $1.60 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC boosted its position in Movado Group by 469.6% in the third quarter. Citadel Advisors LLC now owns 107,068 shares of the company’s stock worth $2,300,000 after buying an additional 88,271 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Movado Group by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 640,271 shares of the company’s stock worth $13,752,000 after buying an additional 19,142 shares during the last quarter. SG Americas Securities LLC boosted its position in Movado Group by 58.3% in the third quarter. SG Americas Securities LLC now owns 11,275 shares of the company’s stock worth $242,000 after buying an additional 4,154 shares during the last quarter. Contrarius Investment Management Ltd boosted its position in Movado Group by 7.6% in the third quarter. Contrarius Investment Management Ltd now owns 175,609 shares of the company’s stock worth $3,772,000 after buying an additional 12,458 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Movado Group by 730.9% in the third quarter. Victory Capital Management Inc. now owns 15,388 shares of the company’s stock worth $331,000 after buying an additional 13,536 shares during the last quarter. Hedge funds and other institutional investors own 63.35% of the company’s stock.
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About Movado Group
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains, department stores and independent jewelers.
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