Movado Group (NYSE:MOV) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Movado Group shares moved above their 200-day moving average, reaching $33.47 and closing near $32.93, although the 50-day average remains higher at $36.04.
• Analysts remain broadly bullish, with a consensus “Strong Buy” rating and a $40 average price target, while the company recently exceeded quarterly earnings and revenue estimates.
• Movado declared a quarterly dividend of $0.40 per share, equivalent to a 4.9% annual yield; institutional investors own approximately 72.1% of the stock.

Shares of Movado Group Inc. (NYSE:MOV - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $32.04 and traded as high as $33.47. Movado Group shares last traded at $32.9260, with a volume of 140,157 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MOV shares. BWS Financial reiterated a "buy" rating and set a $45.00 target price on shares of Movado Group in a research report on Tuesday, September 1st. Northland Securities set a $35.00 price objective on shares of Movado Group in a research note on Wednesday, May 27th. Wall Street Zen cut shares of Movado Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 29th. Zacks Research raised shares of Movado Group from a "hold" rating to a "strong-buy" rating in a report on Friday, May 29th. Finally, Weiss Ratings upgraded Movado Group from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy" and a consensus target price of $40.00.

Movado Group Trading Up 0.3%

The company has a market capitalization of $734.58 million, a PE ratio of 18.29 and a beta of 0.92. The firm's 50-day simple moving average is $36.04 and its 200-day simple moving average is $32.04.

Movado Group (NYSE:MOV - Get Free Report) last issued its earnings results on Wednesday, August 26th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.19. The company had revenue of $169.75 million for the quarter, compared to analysts' expectations of $164.20 million. Movado Group had a net margin of 6.00% and a return on equity of 8.49%. As a group, analysts anticipate that Movado Group Inc. will post 1.94 EPS for the current year.

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Tuesday, September 8th. Movado Group's dividend payout ratio is 88.89%.

Hedge Funds Weigh In On Movado Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Movado Group in the 2nd quarter worth $52,824,000. Bank of New York Mellon Corp purchased a new stake in Movado Group in the second quarter valued at about $6,664,000. Empowered Funds LLC acquired a new stake in Movado Group in the second quarter worth about $4,063,000. Renaissance Technologies LLC boosted its holdings in Movado Group by 125.6% in the first quarter. Renaissance Technologies LLC now owns 139,198 shares of the company's stock worth $3,399,000 after acquiring an additional 77,500 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Movado Group by 120.8% during the first quarter. Lazard Asset Management LLC now owns 124,643 shares of the company's stock worth $3,044,000 after acquiring an additional 68,201 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company's stock.

Movado Group Company Profile

Movado Group, Inc is a designer, manufacturer, and distributor of watches and related accessories. The company's portfolio includes its flagship Movado brand, known for minimalist watch designs, as well as Ebel, Concord, MVMT, and Olivia Burton. Movado Group also markets watches under licensed and owned fashion brands, including Coach, Tommy Hilfiger, Hugo Boss, Lacoste, and Calvin Klein, subject to the terms of its licensing agreements.

Founded in 1881 in La Chaux-de-Fonds, Switzerland, Movado Group has developed into an international watch company headquartered in Paramus, New Jersey.

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