Movado Group, Inc. (NYSE:MOV – Get Rating) shares gapped down prior to trading on Tuesday . The stock had previously closed at $33.49, but opened at $30.44. Movado Group shares last traded at $29.57, with a volume of 1,764 shares traded.
Analysts Set New Price Targets
Separately, StockNews.com assumed coverage on Movado Group in a research report on Wednesday, October 12th. They issued a “buy” rating for the company.
Movado Group Price Performance
The business has a 50-day simple moving average of $31.57 and a 200 day simple moving average of $32.77. The firm has a market cap of $686.76 million, a PE ratio of 6.81 and a beta of 1.20.
Movado Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Thursday, December 1st. Movado Group’s payout ratio is 31.11%.
Institutional Trading of Movado Group
Several institutional investors have recently made changes to their positions in the business. Mutual of America Capital Management LLC grew its position in shares of Movado Group by 14.7% during the second quarter. Mutual of America Capital Management LLC now owns 2,705 shares of the company’s stock worth $84,000 after purchasing an additional 346 shares in the last quarter. US Bancorp DE grew its position in shares of Movado Group by 5.9% during 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 in the last quarter. Captrust Financial Advisors grew its position in shares of Movado Group by 89.5% during the first 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. New York State Teachers Retirement System grew its position in shares of Movado Group by 1.5% during the second quarter. New York State Teachers Retirement System now owns 40,647 shares of the company’s stock worth $1,257,000 after purchasing an additional 590 shares in the last quarter. Finally, Algert Global LLC grew its position in shares of Movado Group by 2.9% during the third 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 67.26% of the company’s stock.
Movado Group Company Profile
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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