Movado Group, Inc (NYSE:MOV) announced a — dividend on Thursday, August 29th, Wall Street Journal reports. Stockholders of record on Tuesday, September 10th will be paid a dividend of 0.20 per share on Tuesday, September 24th. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, September 9th.
Movado Group has raised its dividend payment by an average of 22.1% annually over the last three years. Movado Group has a dividend payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings.
Shares of Movado Group stock opened at $23.49 on Friday. The stock has a 50-day simple moving average of $24.20 and a 200-day simple moving average of $29.78. Movado Group has a 52-week low of $18.78 and a 52-week high of $45.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.64 and a quick ratio of 2.40. The firm has a market cap of $530.33 million, a price-to-earnings ratio of 8.80 and a beta of 0.54.
In other Movado Group news, Director Maurice S. Reznik purchased 3,002 shares of the company’s stock in a transaction on Friday, August 30th. The shares were bought at an average cost of $21.25 per share, with a total value of $63,792.50. Following the transaction, the director now directly owns 35,732 shares in the company, valued at approximately $759,305. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 29.92% of the company’s stock.
Several equities research analysts recently weighed in on the company. TheStreet lowered Movado Group from a “b-” rating to a “c+” rating in a report on Monday, June 10th. Zacks Investment Research lowered Movado Group from a “hold” rating to a “strong sell” rating in a report on Thursday. Finally, Cowen lowered Movado Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $40.00 to $22.00 in a report on Thursday, August 29th.
About Movado Group
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
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