Movado Group (NYSE:MOV) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Movado Group Inc. (NYSE:MOV) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.33 and traded as high as $24.57. Movado Group shares last traded at $24.2750, with a volume of 157,190 shares trading hands.

Analysts Set New Price Targets

MOV has been the subject of several research analyst reports. Northland Securities initiated coverage on shares of Movado Group in a report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 price objective for the company. Wall Street Zen raised Movado Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. BWS Financial restated a “buy” rating and set a $31.50 price target on shares of Movado Group in a research report on Friday, March 20th. Finally, Zacks Research raised Movado Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Movado Group Stock Performance

The business’s 50-day moving average is $24.01 and its 200-day moving average is $21.33. The company has a market capitalization of $535.99 million, a PE ratio of 20.93 and a beta of 0.92.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Thursday, March 19th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. The business had revenue of $191.58 million for the quarter, compared to analysts’ expectations of $182.02 million. Analysts expect that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 2nd will be paid a $0.35 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.40 annualized dividend and a dividend yield of 5.8%. Movado Group’s dividend payout ratio is presently 120.69%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Movado Group by 5.9% in the third quarter. Vanguard Group Inc. now owns 1,029,220 shares of the company’s stock worth $19,524,000 after acquiring an additional 57,353 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Movado Group by 3.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 888,244 shares of the company’s stock worth $18,316,000 after purchasing an additional 29,137 shares during the last quarter. Brandes Investment Partners LP raised its position in shares of Movado Group by 5.6% in the 4th quarter. Brandes Investment Partners LP now owns 704,036 shares of the company’s stock worth $14,517,000 after purchasing an additional 37,587 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Movado Group by 14.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock worth $9,712,000 after purchasing an additional 80,109 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Movado Group by 19.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 388,418 shares of the company’s stock worth $8,009,000 after purchasing an additional 62,278 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Movado Group Company Profile

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.