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

Movado Group, Inc. (NYSE:MOV) declared a quarterly dividend on Tuesday, March 26th, NASDAQ reports. Investors of record on Tuesday, April 9th will be given a dividend of 0.35 per share on Tuesday, April 23rd. This represents a $1.40 annualized dividend and a yield of 5.06%. The ex-dividend date is Monday, April 8th.

Movado Group has a dividend payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings.

Movado Group Price Performance

MOV opened at $27.66 on Thursday. Movado Group has a 12 month low of $23.94 and a 12 month high of $31.44. The stock has a market capitalization of $610.73 million, a price-to-earnings ratio of 13.43 and a beta of 1.13. The business has a fifty day moving average price of $27.88 and a 200 day moving average price of $28.19.

Institutional Trading of Movado Group

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Movado Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 1,138,788 shares of the company’s stock worth $34,334,000 after buying an additional 5,296 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Movado Group by 6.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 11,677 shares of the company’s stock worth $352,000 after buying an additional 720 shares during the last quarter. Legal & General Group Plc lifted its holdings in Movado Group by 0.8% during the 4th quarter. Legal & General Group Plc now owns 42,205 shares of the company’s stock worth $1,272,000 after buying an additional 351 shares during the last quarter. Barclays PLC lifted its holdings in Movado Group by 87.8% during the 4th quarter. Barclays PLC now owns 36,490 shares of the company’s stock worth $1,101,000 after buying an additional 17,064 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Movado Group by 1.1% during the 4th quarter. Nuveen Asset Management LLC now owns 63,272 shares of the company’s stock worth $1,908,000 after buying an additional 713 shares during the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Benchmark reissued a “buy” rating and set a $41.00 target price on shares of Movado Group in a research note on Wednesday.

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, and Calvin Klein.