Movado Group (NYSE:MOV) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Movado Group (NYSE:MOV) from a buy rating to a hold rating in a research report report published on Friday.

Separately, Benchmark reiterated a buy rating and set a $41.00 target price on shares of Movado Group in a report on Friday, May 31st.

Movado Group Price Performance

Shares of Movado Group stock opened at $18.63 on Friday. The stock has a market capitalization of $413.77 million, a P/E ratio of 10.41 and a beta of 1.00. Movado Group has a one year low of $18.46 and a one year high of $31.44. The business’s 50 day simple moving average is $24.21 and its two-hundred day simple moving average is $25.70.

Movado Group (NYSE:MOV) last issued its earnings results on Thursday, September 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $159.31 million during the quarter. Movado Group had a return on equity of 7.23% and a net margin of 5.45%. During the same quarter last year, the firm posted $0.38 earnings per share. Sell-side analysts expect that Movado Group will post 0.95 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, September 16th. This represents a $1.40 annualized dividend and a dividend yield of 7.51%. Movado Group’s dividend payout ratio (DPR) is presently 78.21%.

Insider Buying and Selling

In other news, SVP Michelle Kennedy sold 1,245 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $26.05, for a total value of $32,432.25. Following the completion of the sale, the senior vice president now directly owns 12,202 shares of the company’s stock, valued at approximately $317,862.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 30.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Movado Group by 27.3% during the 4th quarter. Russell Investments Group Ltd. now owns 26,410 shares of the company’s stock valued at $796,000 after buying an additional 5,668 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Movado Group by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,906 shares of the company’s stock worth $7,173,000 after acquiring an additional 11,876 shares in the last quarter. Jump Financial LLC purchased a new stake in Movado Group in the fourth quarter worth about $653,000. Dimensional Fund Advisors LP increased its stake in shares of Movado Group by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,241,890 shares of the company’s stock valued at $37,443,000 after purchasing an additional 19,994 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Movado Group by 60.7% during the fourth quarter. Boston Partners now owns 130,961 shares of the company’s stock valued at $3,948,000 after purchasing an additional 49,486 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 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.