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

Movado Group, Inc. (NYSE:MOV - Get Free Report) declared a quarterly dividend on Friday, May 30th, Wall Street Journal reports. Stockholders of record on Thursday, June 12th will be given a dividend of 0.35 per share on Thursday, June 26th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.59%. The ex-dividend date is Thursday, June 12th.

Movado Group has raised its dividend payment by an average of 13.8% per year over the last three years.

Movado Group Stock Up 0.6%

Shares of NYSE MOV traded up $0.10 during trading on Monday, reaching $16.30. 275,786 shares of the stock were exchanged, compared to its average volume of 209,989. The business's 50-day moving average price is $15.25 and its 200 day moving average price is $17.97. Movado Group has a twelve month low of $12.85 and a twelve month high of $26.96. The company has a market capitalization of $362.46 million, a price-to-earnings ratio of 15.67 and a beta of 1.17.

Movado Group (NYSE:MOV - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31). Movado Group had a return on equity of 5.38% and a net margin of 3.62%. The firm had revenue of $131.77 million for the quarter, compared to analyst estimates of $142.11 million. As a group, sell-side analysts expect that Movado Group will post 1.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MOV has been the topic of several recent analyst reports. Wall Street Zen cut shares of Movado Group from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. BWS Financial reaffirmed a "buy" rating and issued a $31.50 price target on shares of Movado Group in a report on Monday.

Institutional Trading of Movado Group

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in shares of Movado Group by 4.1% during the first quarter. Royal Bank of Canada now owns 26,524 shares of the company's stock worth $444,000 after purchasing an additional 1,042 shares during the period. AQR Capital Management LLC raised its holdings in shares of Movado Group by 26.5% during the first quarter. AQR Capital Management LLC now owns 129,746 shares of the company's stock worth $2,169,000 after purchasing an additional 27,182 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Movado Group by 212.8% during the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company's stock worth $11,226,000 after purchasing an additional 456,727 shares during the period. Empowered Funds LLC raised its holdings in shares of Movado Group by 5.5% during the first quarter. Empowered Funds LLC now owns 108,377 shares of the company's stock worth $1,812,000 after purchasing an additional 5,697 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Movado Group by 11.4% during the first quarter. Jane Street Group LLC now owns 104,188 shares of the company's stock worth $1,742,000 after purchasing an additional 10,670 shares during the period. 72.08% of the stock is owned by institutional investors and hedge funds.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.