Key Points
- Director Alexander Grinberg sold 4,935 shares on January 5 at an average price of $43.05 for $212,451.75, reducing his stake by 17.02% to 24,066 shares (SEC filing).
- Movado declared a quarterly dividend of $0.35 per share (annualized $1.40) with an ex-dividend date of April 2 and payable April 16, implying a 5.9% yield and a payout ratio of 120.69%.
- Latest quarter beat estimates with EPS of $0.57 vs. $0.52 expected and revenue $191.58M vs. $182.02M, and analysts give a consensus rating of "Moderate Buy" with a $30.75 target.
Movado Group Inc. (NYSE:MOV - Get Free Report) Director Alexander Grinberg sold 4,935 shares of the firm's stock in a transaction that occurred on Wednesday, January 5th. The stock was sold at an average price of $43.05, for a total transaction of $212,451.75. Following the completion of the transaction, the director owned 24,066 shares in the company, valued at $1,036,041.30. This represents a 17.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Movado Group Stock Down 3.5%
Shares of MOV opened at $23.77 on Friday. The stock has a market capitalization of $524.80 million, a P/E ratio of 20.49 and a beta of 0.85. Movado Group Inc. has a twelve month low of $12.85 and a twelve month high of $25.85. The firm has a fifty day simple moving average of $24.12 and a two-hundred day simple moving average of $21.40.
Movado Group (NYSE:MOV - Get Free Report) last released its quarterly earnings data on Thursday, March 19th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.05. The firm had revenue of $191.58 million for the quarter, compared to analysts' expectations of $182.02 million. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. Sell-side analysts expect that Movado Group Inc. will post 1.05 EPS for the current fiscal year.
Movado Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 2nd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Thursday, April 2nd. Movado Group's payout ratio is currently 120.69%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Movado Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Movado Group in a research note on Monday, December 29th. Northland Securities initiated coverage on shares of Movado Group in a report on Wednesday, January 7th. They issued an "outperform" rating and a $30.00 price target on the stock. Zacks Research raised shares of Movado Group from a "strong sell" rating to a "hold" rating in a research report on Monday, January 26th. Finally, BWS Financial restated a "buy" rating and issued a $31.50 price objective on shares of Movado Group in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Movado Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.75.
Get Our Latest Research Report on MOV
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in MOV. Goldman Sachs Group Inc. lifted its stake in shares of Movado Group by 212.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company's stock valued at $11,226,000 after purchasing an additional 456,727 shares during the period. Brandes Investment Partners LP bought a new stake in shares of Movado Group during the second quarter valued at approximately $5,540,000. Russell Investments Group Ltd. grew its stake in Movado Group by 426.8% in the second quarter. Russell Investments Group Ltd. now owns 176,015 shares of the company's stock worth $2,684,000 after purchasing an additional 142,601 shares during the period. JPMorgan Chase & Co. raised its holdings in Movado Group by 153.4% in the second quarter. JPMorgan Chase & Co. now owns 161,178 shares of the company's stock worth $2,458,000 after purchasing an additional 97,566 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Movado Group by 94.1% during the fourth quarter. AQR Capital Management LLC now owns 186,862 shares of the company's stock valued at $3,853,000 after buying an additional 90,578 shares during the period. Institutional investors own 72.08% of the company's stock.
About Movado Group
(
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.
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