Movado Group (NYSE:MOV) Upgraded at StockNews.com

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

Separately, BWS Financial started coverage on shares of Movado Group in a research report on Thursday, January 2nd. They issued a “buy” rating and a $31.50 price target on the stock.

Movado Group Price Performance

MOV opened at $19.84 on Tuesday. Movado Group has a fifty-two week low of $17.86 and a fifty-two week high of $29.45. The company’s 50 day moving average price is $19.91 and its two-hundred day moving average price is $20.80. The firm has a market capitalization of $439.27 million, a price-to-earnings ratio of 19.08 and a beta of 1.03.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.06%. The ex-dividend date of this dividend was Monday, December 16th. Movado Group’s payout ratio is presently 134.62%.

Institutional Investors Weigh In On Movado Group

Several institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC boosted its holdings in shares of Movado Group by 5.1% in the 4th quarter. Empowered Funds LLC now owns 102,680 shares of the company’s stock worth $2,021,000 after buying an additional 4,958 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Movado Group by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company’s stock valued at $1,340,000 after buying an additional 1,994 shares in the last quarter. Confluence Investment Management LLC boosted its holdings in Movado Group by 60.6% in the 4th quarter. Confluence Investment Management LLC now owns 176,057 shares of the company’s stock worth $3,465,000 after buying an additional 66,422 shares during the period. Sanctuary Advisors LLC grew its stake in Movado Group by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 60,148 shares of the company’s stock valued at $1,179,000 after buying an additional 2,551 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Movado Group in the third quarter worth $364,000. Institutional investors own 72.08% of the company’s stock.

About Movado Group

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.