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

Movado Group, Inc. (NYSE:MOV - Get Free Report) declared a quarterly dividend on Friday, May 30th, Wall Street Journal reports. Investors of record on Thursday, June 12th will be paid a dividend of 0.35 per share on Thursday, June 26th. This represents a $1.40 dividend on an annualized basis and a yield of 8.61%. The ex-dividend date of this dividend is Thursday, June 12th.

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

Movado Group Stock Down 0.2%

NYSE:MOV traded down $0.03 during trading hours on Tuesday, reaching $16.25. The company had a trading volume of 251,230 shares, compared to its average volume of 210,434. The firm has a market cap of $361.40 million, a price-to-earnings ratio of 15.63 and a beta of 1.21. The business's 50-day simple moving average is $15.25 and its two-hundred day simple moving average is $17.97. Movado Group has a twelve month low of $12.85 and a twelve month high of $26.75.

Movado Group (NYSE:MOV - Get Free Report) last posted its quarterly 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). The company had revenue of $131.77 million during the quarter, compared to analyst estimates of $142.11 million. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. As a group, equities analysts predict that Movado Group will post 1.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Movado Group

A number of large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its position in Movado Group by 4.1% during the 1st quarter. Royal Bank of Canada now owns 26,524 shares of the company's stock valued at $444,000 after buying an additional 1,042 shares during the period. Empowered Funds LLC raised its holdings in Movado Group by 5.5% in the 1st 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 in the last quarter. Jane Street Group LLC raised its holdings in Movado Group by 11.4% in the 1st 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 in the last quarter. AQR Capital Management LLC raised its holdings in Movado Group by 26.5% in the 1st 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 in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Movado Group by 212.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company's stock valued at $11,226,000 after acquiring an additional 456,727 shares during the period. 72.08% of the stock is owned by hedge funds and other institutional investors.

About Movado Group

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.