Movado Group (NYSE:MOV) Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Movado Group (NYSE:MOV - Free Report) from a sell rating to a hold rating in a research report report published on Friday morning.

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

Movado Group Price Performance

NYSE:MOV traded down $0.19 during trading hours on Friday, hitting $15.28. The company had a trading volume of 170,016 shares, compared to its average volume of 212,796. The company has a market capitalization of $339.83 million, a PE ratio of 19.10 and a beta of 1.21. The stock has a 50-day moving average price of $15.57 and a 200 day moving average price of $17.35. Movado Group has a 52 week low of $12.85 and a 52 week high of $26.59.

Movado Group (NYSE:MOV - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.31). The company had revenue of $131.77 million during the quarter, compared to the consensus estimate of $142.11 million. Movado Group had a net margin of 2.78% and a return on equity of 5.10%. Analysts anticipate that Movado Group will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.16%. The ex-dividend date of this dividend was Thursday, June 12th. Movado Group's dividend payout ratio (DPR) is presently 175.00%.

Institutional Trading of Movado Group

A number of hedge funds have recently modified their holdings of the business. Royce & Associates LP boosted its holdings in shares of Movado Group by 10.3% during the 1st quarter. Royce & Associates LP now owns 1,628,031 shares of the company's stock valued at $27,221,000 after buying an additional 152,677 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Movado Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 959,424 shares of the company's stock worth $18,881,000 after purchasing an additional 9,999 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Movado Group by 212.8% in the 1st 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 last quarter. Ameriprise Financial Inc. raised its position in shares of Movado Group by 19.3% in the 4th quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company's stock worth $10,813,000 after purchasing an additional 88,778 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Movado Group by 202.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock worth $9,414,000 after purchasing an additional 320,103 shares during the last quarter. Institutional investors own 72.08% of the company's stock.

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.