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

Movado Group, Inc. (NYSE:MOV) announced a quarterly dividend on Tuesday, March 26th, NASDAQ reports. Shareholders of record on Tuesday, April 9th will be paid a dividend of 0.35 per share on Tuesday, April 23rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date is Monday, April 8th.

Movado Group has a dividend payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings.

Movado Group Stock Up 0.8 %

NYSE:MOV opened at $26.72 on Wednesday. The company’s 50 day moving average is $27.88 and its 200-day moving average is $28.19. Movado Group has a 12 month low of $23.94 and a 12 month high of $31.44. The firm has a market cap of $589.98 million, a price-to-earnings ratio of 10.56 and a beta of 1.13.

Institutional Investors Weigh In On Movado Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Movado Group by 0.8% in the 3rd quarter. BlackRock Inc. now owns 2,524,571 shares of the company’s stock valued at $71,142,000 after purchasing an additional 21,110 shares during the period. Dimensional Fund Advisors LP boosted its stake in Movado Group by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,286,810 shares of the company’s stock worth $37,021,000 after buying an additional 25,264 shares in the last quarter. Vanguard Group Inc. increased its stake in Movado Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,219,892 shares of the company’s stock valued at $47,638,000 after acquiring an additional 7,313 shares during the period. First Trust Advisors LP grew its stake in shares of Movado Group by 41.8% in the 4th quarter. First Trust Advisors LP now owns 793,756 shares of the company’s stock valued at $23,932,000 after purchasing an additional 233,926 shares during the period. Finally, State Street Corp lifted its holdings in shares of Movado Group by 0.4% during the second quarter. State Street Corp now owns 578,247 shares of the company’s stock valued at $15,514,000 after acquiring an additional 2,414 shares during the period. Institutional investors and hedge funds own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “buy” rating and set a $41.00 target price on shares of Movado Group in a research report on Friday, December 1st.

About Movado Group

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, and Calvin Klein.