Movado Group Inc. (NYSE:MOV) Declares Dividend Increase – $0.40 Per Share

Movado Group Inc. (NYSE:MOV) announced a quarterly dividend on Wednesday, May 27th. Investors of record on Wednesday, June 10th will be paid a dividend of 0.40 per share on Wednesday, June 24th. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, June 10th. This is a 14.3% increase from Movado Group’s previous quarterly dividend of $0.35.

Movado Group has raised its dividend by an average of 0.7%per year over the last three years.

Movado Group Price Performance

NYSE:MOV traded up $4.13 during trading hours on Wednesday, reaching $33.95. The company’s stock had a trading volume of 686,212 shares, compared to its average volume of 152,807. The company has a market cap of $749.61 million, a price-to-earnings ratio of 29.27 and a beta of 0.86. Movado Group has a one year low of $14.70 and a one year high of $34.29. The business’s 50-day moving average is $26.33 and its 200-day moving average is $23.59.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The firm had revenue of $142.40 million during the quarter, compared to analysts’ expectations of $135.12 million. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. During the same period in the prior year, the company posted $0.06 earnings per share. On average, sell-side analysts predict that Movado Group will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MOV. PNC Financial Services Group Inc. lifted its position in Movado Group by 39.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock worth $33,000 after acquiring an additional 449 shares during the last quarter. Comerica Bank raised its position in shares of Movado Group by 99.0% during the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after buying an additional 888 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Movado Group by 70.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock valued at $36,000 after buying an additional 724 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Movado Group by 16,040.0% during the first quarter. Fifth Third Bancorp now owns 1,614 shares of the company’s stock valued at $39,000 after buying an additional 1,604 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Movado Group during the second quarter valued at about $40,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

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.