Movado Group (NYSE:MOV) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Movado Group (NYSE:MOV) from a hold rating to a buy rating in a research note published on Monday morning.

Separately, BWS Financial assumed coverage on Movado Group in a research report on Thursday, January 2nd. They set a “buy” rating and a $31.50 price objective for the company.

Movado Group Price Performance

NYSE:MOV opened at $20.16 on Monday. Movado Group has a 12-month low of $17.86 and a 12-month high of $29.14. The firm has a market capitalization of $446.29 million, a P/E ratio of 19.38 and a beta of 1.00. The business has a 50 day simple moving average of $19.57 and a 200 day simple moving average of $20.06.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a yield of 6.95%. Movado Group’s dividend payout ratio (DPR) is presently 134.62%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in Movado Group by 3.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,395 shares of the company’s stock worth $500,000 after acquiring an additional 848 shares during the period. Victory Capital Management Inc. boosted its position in Movado Group by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 16,330 shares of the company’s stock worth $304,000 after acquiring an additional 1,301 shares during the period. Barclays PLC boosted its position in Movado Group by 5.3% during the 4th quarter. Barclays PLC now owns 28,080 shares of the company’s stock worth $552,000 after acquiring an additional 1,416 shares during the period. Exchange Traded Concepts LLC boosted its position in Movado Group by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company’s stock worth $1,340,000 after acquiring an additional 1,994 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Movado Group by 18.4% during the 4th quarter. Wells Fargo & Company MN now owns 14,372 shares of the company’s stock worth $283,000 after acquiring an additional 2,234 shares during the period. Institutional investors and hedge funds 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.