Movado Group (NYSE:MOV) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Movado Group (NYSE:MOV - Free Report) from a hold rating to a sell rating in a research note issued to investors on Friday.

Separately, BWS Financial restated a "buy" rating and issued a $31.50 price target on shares of Movado Group in a research report on Monday, June 2nd.

Movado Group Stock Up 3.0%

NYSE:MOV traded up $0.47 during trading hours on Friday, reaching $16.09. 108,863 shares of the stock were exchanged, compared to its average volume of 210,966. The firm has a 50 day simple moving average of $15.12 and a 200-day simple moving average of $17.86. Movado Group has a 52 week low of $12.85 and a 52 week high of $26.59. The stock has a market capitalization of $357.70 million, a P/E ratio of 15.47 and a beta of 1.21.

Movado Group (NYSE:MOV - Get Free Report) last released 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 the consensus estimate of $142.11 million. As a group, analysts expect that Movado Group will post 1.05 earnings per share for the current year.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 8.70%. The ex-dividend date is Thursday, June 12th. Movado Group's dividend payout ratio (DPR) is 175.00%.

Institutional Investors Weigh In On Movado Group

A number of hedge funds have recently added to or reduced their stakes in MOV. Empowered Funds LLC lifted its stake in Movado Group by 5.1% in the fourth quarter. Empowered Funds LLC now owns 102,680 shares of the company's stock valued at $2,021,000 after buying an additional 4,958 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Movado Group by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company's stock valued at $4,320,000 after purchasing an additional 22,578 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Movado Group in the 4th quarter valued at about $804,000. VELA Investment Management LLC lifted its position in Movado Group by 121.1% in the 4th quarter. VELA Investment Management LLC now owns 113,574 shares of the company's stock valued at $2,235,000 after purchasing an additional 62,214 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Movado Group by 131.7% in the 4th quarter. Victory Capital Management Inc. now owns 37,835 shares of the company's stock valued at $745,000 after purchasing an additional 21,505 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors.

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.