Movado Group (NYSE:MOV) Now Covered by Analysts at BWS Financial

BWS Financial started coverage on shares of Movado Group (NYSE:MOV) in a report published on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $31.50 target price on the stock.

Separately, StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a research note on Friday, September 6th.

Movado Group Price Performance

Shares of MOV opened at $19.55 on Thursday. Movado Group has a one year low of $17.86 and a one year high of $30.14. The company has a market cap of $432.90 million, a PE ratio of 18.80 and a beta of 1.04. The stock has a 50-day moving average of $19.83 and a 200-day moving average of $21.57.

Movado Group Dividend Announcement

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 7.16%. The ex-dividend date of this dividend was Monday, December 16th. Movado Group’s payout ratio is presently 134.62%.

Institutional Trading of Movado Group

Several institutional investors and hedge funds have recently modified their holdings of MOV. Confluence Investment Management LLC grew its stake in shares of 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 acquiring an additional 66,422 shares in the last quarter. Sanctuary Advisors LLC grew its position in Movado Group by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 60,148 shares of the company’s stock worth $1,179,000 after purchasing an additional 2,551 shares in the last quarter. Virtu Financial LLC purchased a new stake in Movado Group in the 3rd quarter valued at about $364,000. Barclays PLC increased its stake in Movado Group by 368.7% in the 3rd quarter. Barclays PLC now owns 26,664 shares of the company’s stock valued at $496,000 after buying an additional 20,975 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Movado Group by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 355,152 shares of the company’s stock worth $6,607,000 after buying an additional 5,990 shares during the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

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.