Movado Group, Inc. (NYSE:MOV) to Issue $0.35 Quarterly Dividend

Movado Group, Inc. (NYSE:MOVGet Rating) declared a quarterly dividend on Wednesday, November 23rd, Wall Street Journal reports. Shareholders of record on Friday, December 2nd will be given a dividend of 0.35 per share on Friday, December 16th. This represents a $1.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Thursday, December 1st.

Movado Group has raised its dividend payment by an average of 5.9% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Movado Group has a payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings.

Movado Group Price Performance

Shares of NYSE MOV traded up $0.53 during mid-day trading on Wednesday, hitting $30.64. The company had a trading volume of 163,161 shares, compared to its average volume of 158,507. The stock has a market cap of $686.76 million, a price-to-earnings ratio of 6.69 and a beta of 1.20. Movado Group has a 12 month low of $27.72 and a 12 month high of $48.66. The firm’s 50 day simple moving average is $31.56 and its two-hundred day simple moving average is $32.79.

Movado Group (NYSE:MOVGet Rating) last posted its earnings results on Thursday, August 25th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.71 by $0.36. Movado Group had a return on equity of 22.90% and a net margin of 13.68%. The firm had revenue of $182.80 million for the quarter. Equities analysts forecast that Movado Group will post 4.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Movado Group in a research report on Wednesday, October 12th. They set a “buy” rating on the stock.

Institutional Trading of Movado Group

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SNC boosted its position in Movado Group by 51.1% during the third quarter. BNP Paribas Arbitrage SNC now owns 16,889 shares of the company’s stock valued at $476,000 after purchasing an additional 5,712 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Movado Group by 4.7% during the third quarter. Thrivent Financial for Lutherans now owns 16,573 shares of the company’s stock valued at $467,000 after purchasing an additional 750 shares during the last quarter. Ancora Advisors LLC boosted its position in Movado Group by 62.7% during the first quarter. Ancora Advisors LLC now owns 15,860 shares of the company’s stock valued at $451,000 after purchasing an additional 6,110 shares during the last quarter. MetLife Investment Management LLC boosted its position in Movado Group by 47.6% during the first quarter. MetLife Investment Management LLC now owns 9,762 shares of the company’s stock valued at $381,000 after purchasing an additional 3,146 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Movado Group by 22.4% during the third quarter. UBS Asset Management Americas Inc. now owns 13,296 shares of the company’s stock valued at $375,000 after purchasing an additional 2,429 shares during the last quarter. Institutional investors and hedge funds own 67.26% of the company’s stock.

Movado Group Company Profile

(Get Rating)

Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, Calvin Klein, and Scuderia Ferrari.

Featured Stories

Dividend History for Movado Group (NYSE:MOV)

Receive News & Ratings for Movado Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Movado Group and related companies with MarketBeat.com's FREE daily email newsletter.