Movado Group (NYSE:MOV) Sets New 12-Month High – Should You Buy?

Shares of Movado Group Inc. (NYSE:MOV) hit a new 52-week high during trading on Friday . The company traded as high as $25.73 and last traded at $25.11, with a volume of 40706 shares traded. The stock had previously closed at $24.93.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MOV shares. BWS Financial reiterated a “buy” rating and issued a $31.50 price objective on shares of Movado Group in a report on Monday, February 2nd. Wall Street Zen raised Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. 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. Finally, Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Movado Group Trading Up 2.5%

The stock has a market cap of $565.72 million, a price-to-earnings ratio of 26.33 and a beta of 0.95. The stock’s 50 day moving average is $22.57 and its two-hundred day moving average is $19.96.

Movado Group (NYSE:MOV) last announced its earnings results on Tuesday, November 25th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). Movado Group had a net margin of 3.33% and a return on equity of 5.86%. The business had revenue of $186.13 million during the quarter, compared to analysts’ expectations of $185.89 million. During the same period in the previous year, the company posted $0.22 earnings per share. On average, sell-side analysts predict that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.5%. Movado Group’s payout ratio is presently 144.33%.

Insider Buying and Selling at Movado Group

In related news, SVP Michelle Kennedy sold 1,290 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total transaction of $26,948.10. Following the completion of the sale, the senior vice president directly owned 27,857 shares of the company’s stock, valued at $581,932.73. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 30.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in shares of Movado Group by 4.8% during the 4th quarter. Invesco Ltd. now owns 37,133 shares of the company’s stock worth $766,000 after acquiring an additional 1,699 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Movado Group during the 4th quarter worth $447,000. Man Group plc purchased a new stake in shares of Movado Group in the 4th quarter worth about $385,000. AQR Capital Management LLC grew its stake in Movado Group by 94.1% in the 4th quarter. AQR Capital Management LLC now owns 186,862 shares of the company’s stock valued at $3,853,000 after acquiring an additional 90,578 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Movado Group by 6.8% in the 4th quarter. Lazard Asset Management LLC now owns 56,442 shares of the company’s stock valued at $1,164,000 after acquiring an additional 3,608 shares during the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

About Movado Group

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.