Movado Group (NYSE:MOV) Sets New 12-Month High – Time to Buy?

Movado Group Inc. (NYSE:MOV)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.73 and last traded at $25.11, with a volume of 40706 shares traded. The stock had previously closed at $24.93.

Wall Street Analyst Weigh In

MOV has been the topic of a number of analyst reports. Northland Securities assumed coverage on Movado Group in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 price target on the stock. BWS Financial reissued a “buy” rating and set a $31.50 target price on shares of Movado Group in a research report on Monday, February 2nd. Wall Street Zen upgraded Movado Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Movado Group Stock Up 3.5%

The firm has a 50-day simple moving average of $22.66 and a 200 day simple moving average of $20.06. The company has a market cap of $571.19 million, a price-to-earnings ratio of 26.60 and a beta of 0.95.

Movado Group (NYSE:MOV) last announced its earnings results on Tuesday, November 25th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). The business had revenue of $186.13 million for the quarter, compared to analysts’ expectations of $185.89 million. Movado Group had a return on equity of 5.86% and a net margin of 3.33%.During the same quarter last year, the business posted $0.22 earnings per share. As a group, research analysts expect that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Monday, December 8th. Movado Group’s dividend payout ratio is presently 144.33%.

Insider Buying and Selling at Movado Group

In related news, SVP Michelle Kennedy sold 1,290 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total transaction of $26,948.10. Following the transaction, the senior vice president owned 27,857 shares of the company’s stock, valued at $581,932.73. This trade represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 30.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MOV. PNC Financial Services Group Inc. increased its holdings in shares of Movado Group by 39.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after purchasing an additional 449 shares during the period. Comerica Bank grew its position in Movado Group by 99.0% in the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after buying an additional 888 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Movado Group by 70.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock valued at $36,000 after buying an additional 724 shares during the period. CWM LLC raised its position in Movado Group by 49.9% during the 2nd quarter. CWM LLC now owns 2,588 shares of the company’s stock worth $39,000 after buying an additional 862 shares during the last quarter. Finally, State of Wyoming purchased a new position in Movado Group during the 2nd quarter worth $40,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

About Movado Group

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.