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

Movado Group, Inc. (NYSE:MOVGet Rating) declared a quarterly dividend on Tuesday, November 22nd, Wall Street Journal reports. Investors of record on Friday, December 2nd will be given a dividend of 0.35 per share on Friday, December 16th. This represents a $1.40 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Thursday, December 1st.

Movado Group has raised its dividend by an average of 5.9% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Movado Group has a payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings.

Movado Group Trading Up 1.8 %

MOV stock traded up $0.53 during trading on Thursday, reaching $30.64. The stock had a trading volume of 163,161 shares, compared to its average volume of 121,308. The firm has a fifty day moving average price of $31.57 and a 200 day moving average price of $32.77. The company has a market capitalization of $686.64 million, a P/E ratio of 6.89 and a beta of 1.20. Movado Group has a 1-year low of $27.72 and a 1-year high of $48.66.

Movado Group (NYSE:MOVGet Rating) last released its earnings results on Thursday, August 25th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.36. The company had revenue of $182.80 million during the quarter. Movado Group had a net margin of 13.51% and a return on equity of 22.14%. Sell-side analysts predict that Movado Group will post 4.23 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, assumed coverage on shares of Movado Group in a research report on Wednesday, October 12th. They issued a “buy” rating for the company.

Institutional Trading of Movado Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MOV. Captrust Financial Advisors lifted its position in shares of Movado Group by 89.5% in the 1st quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock valued at $42,000 after acquiring an additional 511 shares in the last quarter. Quantbot Technologies LP increased its stake in Movado Group by 153.3% in the 1st quarter. Quantbot Technologies LP now owns 2,839 shares of the company’s stock valued at $110,000 after buying an additional 1,718 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in Movado Group in the 3rd quarter valued at approximately $131,000. Bank of Montreal Can acquired a new position in Movado Group in the 1st quarter valued at approximately $201,000. Finally, US Bancorp DE increased its stake in shares of Movado Group by 5.9% during the 1st quarter. US Bancorp DE now owns 8,157 shares of the company’s stock worth $318,000 after purchasing an additional 453 shares during the last quarter. 67.26% of the stock is owned by institutional investors and hedge funds.

Movado Group Company Profile

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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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