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

Movado Group, Inc. (NYSE:MOVGet Rating) declared a quarterly dividend on Thursday, May 26th, Zacks reports. Investors of record on Wednesday, June 8th will be paid a dividend of 0.35 per share on Wednesday, June 22nd. This represents a $1.40 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Tuesday, June 7th.

Movado Group has increased its dividend by an average of 5.9% annually over the last three years and has increased its dividend every year for the last 1 years. Movado Group has a dividend payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings.

Shares of NYSE:MOV opened at $36.61 on Friday. The firm has a market capitalization of $833.39 million, a PE ratio of 9.44 and a beta of 1.15. The business has a 50 day simple moving average of $36.63 and a two-hundred day simple moving average of $38.30. Movado Group has a 1 year low of $27.69 and a 1 year high of $48.66.

Movado Group (NYSE:MOVGet Rating) last announced its quarterly earnings results on Thursday, March 24th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.52. Movado Group had a return on equity of 20.78% and a net margin of 12.51%. The company had revenue of $205.98 million during the quarter. During the same quarter in the prior year, the business posted $0.84 earnings per share. Analysts expect that Movado Group will post 4.11 earnings per share for the current fiscal year.

MOV has been the subject of several recent analyst reports. StockNews.com upgraded shares of Movado Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Zacks Investment Research upgraded Movado Group from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a report on Thursday, March 31st.

In other news, Director Ann Kirschner sold 3,800 shares of the stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $39.41, for a total value of $149,758.00. Following the completion of the sale, the director now directly owns 13,897 shares of the company’s stock, valued at $547,680.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard D. Isserman sold 5,000 shares of Movado Group stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $37.86, for a total transaction of $189,300.00. Following the sale, the director now owns 16,962 shares in the company, valued at approximately $642,181.32. The disclosure for this sale can be found here. 28.42% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Movado Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,219,892 shares of the company’s stock worth $47,638,000 after purchasing an additional 7,313 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Movado Group by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,150,332 shares of the company’s stock worth $44,922,000 after purchasing an additional 33,119 shares during the last quarter. State Street Corp grew its stake in Movado Group by 4.3% in the 1st quarter. State Street Corp now owns 501,378 shares of the company’s stock valued at $19,579,000 after buying an additional 20,564 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Movado Group by 1.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 210,530 shares of the company’s stock valued at $8,221,000 after buying an additional 2,434 shares during the last quarter. Finally, Morgan Stanley grew its stake in Movado Group by 11.6% in the 3rd quarter. Morgan Stanley now owns 186,140 shares of the company’s stock valued at $5,861,000 after buying an additional 19,358 shares during the last quarter. 65.26% of the stock is owned by institutional investors.

Movado Group Company Profile (Get Rating)

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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