Movado Group (NYSE:MOV) released its earnings results on Tuesday. The company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.35, MarketWatch Earnings reports. Movado Group had a net margin of 11.25% and a return on equity of 15.73%. During the same quarter in the previous year, the business posted $0.70 EPS. Movado Group updated its FY 2022 guidance to $3.350-$3.450 EPS.
Shares of MOV opened at $47.66 on Thursday. Movado Group has a 1 year low of $16.01 and a 1 year high of $48.66. The company has a 50 day simple moving average of $34.92 and a two-hundred day simple moving average of $32.45. The firm has a market cap of $1.10 billion, a P/E ratio of 15.18 and a beta of 1.29.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 17th. Shareholders of record on Friday, December 3rd will be issued a dividend of $0.25 per share. This is a positive change from Movado Group’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, December 2nd. Movado Group’s dividend payout ratio (DPR) is 25.48%.
In related news, Director Alan H. Howard sold 2,109 shares of the firm’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $38.00, for a total value of $80,142.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mitchell Cole Sussis sold 10,324 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $37.75, for a total transaction of $389,731.00. Following the completion of the transaction, the vice president now directly owns 13,870 shares of the company’s stock, valued at $523,592.50. The disclosure for this sale can be found here. Company insiders own 28.42% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Movado Group by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 170,228 shares of the company’s stock worth $5,360,000 after buying an additional 865 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Movado Group by 85.5% in the third quarter. BNP Paribas Arbitrage SA now owns 22,407 shares of the company’s stock worth $706,000 after buying an additional 10,325 shares during the last quarter. Jane Street Group LLC bought a new stake in Movado Group in the third quarter worth $239,000. Royal Bank of Canada lifted its position in Movado Group by 4.3% in the third quarter. Royal Bank of Canada now owns 18,229 shares of the company’s stock worth $574,000 after buying an additional 752 shares during the last quarter. Finally, Morgan Stanley lifted its position in Movado Group by 11.6% in the third quarter. Morgan Stanley now owns 186,140 shares of the company’s stock worth $5,861,000 after buying an additional 19,358 shares during the last quarter. Institutional investors own 63.11% of the company’s stock.
About Movado Group
Movado Group, Inc engages in the design, manufacture, and distribution of watches. It operates through Watch and Accessory Brands and Company Stores segments. The Watch and Accessory Brands segment include distribution of watches and, to a lesser extent, jewelry and other accessories, of owned and licensed brands, in addition to revenue generated from after-sales service activities and shipping.
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