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

Movado Group, Inc. (NYSE:MOVGet 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 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Tuesday, June 7th.

Movado Group has increased its dividend payment by an average of 5.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Movado Group has a payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings.

Shares of Movado Group stock opened at $36.61 on Friday. The company has a market capitalization of $833.39 million, a PE ratio of 9.44 and a beta of 1.15. Movado Group has a 1-year low of $27.69 and a 1-year high of $48.66. The business has a 50-day moving average of $36.63 and a 200-day moving average of $38.30.

Movado Group (NYSE:MOVGet Rating) last issued its earnings results on Thursday, March 24th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.52. Movado Group had a return on equity of 20.78% and a net margin of 12.51%. The company had revenue of $205.98 million during the quarter. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, sell-side analysts expect that Movado Group will post 4.11 earnings per share for the current year.

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 transaction, the director now owns 13,897 shares in the company, valued at approximately $547,680.77. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard D. Isserman sold 5,000 shares of the 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 completion of the transaction, the director now owns 16,962 shares of the company’s stock, valued at approximately $642,181.32. The disclosure for this sale can be found here. 28.42% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in MOV. Captrust Financial Advisors increased its position in shares of Movado Group by 89.5% during the 1st quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock worth $42,000 after purchasing an additional 511 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Movado Group by 153.3% during the 1st quarter. Quantbot Technologies LP now owns 2,839 shares of the company’s stock worth $110,000 after purchasing an additional 1,718 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in Movado Group by 16.2% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,209 shares of the company’s stock valued at $176,000 after acquiring an additional 586 shares in the last quarter. Bank of Montreal Can acquired a new stake in Movado Group in the 1st quarter valued at about $201,000. Finally, Renaissance Technologies LLC acquired a new stake in Movado Group in the 3rd quarter valued at about $230,000. Institutional investors and hedge funds own 65.26% of the company’s stock.

MOV has been the subject of a number of research reports. StockNews.com upgraded Movado Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Zacks Investment Research upgraded shares of Movado Group from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective on the stock in a research note on Thursday, March 31st.

Movado Group Company Profile (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.

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Dividend History for Movado Group (NYSE:MOV)

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