Key Points
- Insider sale: Movado SVP Michelle Kennedy sold 1,290 shares on Dec. 9 at an average of $20.89 for about $26,948, reducing her stake by 4.43% to 27,857 shares (SEC filing disclosed).
- Earnings and valuation: The company reported quarterly EPS of $0.45, missing the $0.57 estimate by $0.12 while revenue was roughly in line at $186.13M; market cap is about $503M with a trailing P/E of 23.4 and analysts forecast ~1.05 EPS for the year.
- Dividend and analyst mix: Movado pays a $0.35 quarterly dividend (annualized $1.40) for a ~6.2% yield but a high payout ratio of 144.3%, and analysts' ratings are mixed with a consensus target near $30.75 ("Moderate Buy").
Movado Group Inc. (NYSE:MOV - Get Free Report) SVP Michelle Kennedy sold 1,290 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $20.89, for a total value of $26,948.10. Following the transaction, the senior vice president owned 27,857 shares of the company's stock, valued at approximately $581,932.73. This trade represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Movado Group Trading Up 0.3%
Shares of NYSE:MOV opened at $22.72 on Tuesday. The firm has a market cap of $503.02 million, a PE ratio of 23.42 and a beta of 0.90. The company has a fifty day simple moving average of $20.40 and a 200 day simple moving average of $18.59. Movado Group Inc. has a 12-month low of $12.85 and a 12-month high of $22.75.
Movado Group (NYSE:MOV - Get Free Report) last announced its quarterly earnings data on Tuesday, November 25th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.12). The company had revenue of $186.13 million for the quarter, compared to analyst estimates of $185.89 million. Movado Group had a return on equity of 5.86% and a net margin of 3.33%.During the same period in the prior year, the business earned $0.22 earnings per share. As a group, equities research analysts forecast that Movado Group Inc. will post 1.05 EPS for the current fiscal year.
Movado Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Monday, December 8th. Movado Group's payout ratio is currently 144.33%.
Analyst Ratings Changes
Several brokerages have recently commented on MOV. Zacks Research lowered Movado Group from a "hold" rating to a "strong sell" rating in a research report on Friday, November 28th. BWS Financial reiterated a "buy" rating and set a $31.50 target price on shares of Movado Group in a research note on Wednesday, November 26th. Northland Capmk raised shares of Movado Group to a "strong-buy" rating in a report on Wednesday, January 7th. Wall Street Zen raised shares of Movado Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Northland Securities initiated coverage on shares of Movado Group in a research report on Wednesday, January 7th. They set an "outperform" rating and a $30.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.75.
View Our Latest Stock Analysis on Movado Group
Hedge Funds Weigh In On Movado Group
Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its holdings in shares of Movado Group by 3.2% in the 3rd quarter. Millennium Management LLC now owns 125,832 shares of the company's stock worth $2,387,000 after acquiring an additional 3,854 shares during the period. Bank of America Corp DE boosted its position in shares of Movado Group by 83.1% during the third quarter. Bank of America Corp DE now owns 33,473 shares of the company's stock worth $635,000 after buying an additional 15,187 shares during the period. Lazard Asset Management LLC grew its holdings in Movado Group by 13.8% in the 3rd quarter. Lazard Asset Management LLC now owns 52,834 shares of the company's stock worth $1,002,000 after buying an additional 6,425 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in Movado Group in the 3rd quarter valued at approximately $379,000. Finally, Two Sigma Investments LP raised its stake in Movado Group by 288.1% during the 3rd quarter. Two Sigma Investments LP now owns 96,468 shares of the company's stock valued at $1,830,000 after acquiring an additional 71,614 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company's stock.
Movado Group Company Profile
(
Get Free Report)
Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company's portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.
Movado Group's product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
