Movado Group (NYSE:MOV) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Movado Group (NYSE:MOV) from a strong-buy rating to a buy rating in a research note published on Saturday.

MOV has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Movado Group in a research report on Monday, December 29th. Northland Securities began coverage on Movado Group in a research report on Wednesday, January 7th. They set an “outperform” rating and a $30.00 price objective on the stock. BWS Financial reaffirmed a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research report on Wednesday, November 26th. Finally, Zacks Research downgraded shares of Movado Group from a “hold” rating to a “strong sell” rating in a research note on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.75.

Movado Group Price Performance

NYSE:MOV opened at $22.49 on Friday. Movado Group has a one year low of $12.85 and a one year high of $23.06. The company has a fifty day moving average price of $21.25 and a 200 day moving average price of $19.03. The stock has a market cap of $497.97 million, a P/E ratio of 23.19 and a beta of 0.90.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Tuesday, November 25th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.12). The company had revenue of $186.13 million during the quarter, compared to analyst estimates of $185.89 million. Movado Group had a return on equity of 5.86% and a net margin of 3.33%.During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, equities research analysts anticipate that Movado Group will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Monday, December 8th. Movado Group’s dividend payout ratio is 144.33%.

Insider Transactions at Movado Group

In other Movado Group 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 transaction, the senior vice president directly owned 27,857 shares in the company, valued at $581,932.73. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 30.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Movado Group

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Movado Group by 4.1% during the 1st quarter. Royal Bank of Canada now owns 26,524 shares of the company’s stock valued at $444,000 after purchasing an additional 1,042 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Movado Group by 26.5% during the first quarter. AQR Capital Management LLC now owns 129,746 shares of the company’s stock worth $2,169,000 after buying an additional 27,182 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Movado Group by 212.8% in the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock valued at $11,226,000 after acquiring an additional 456,727 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Movado Group by 5.5% in the first quarter. Empowered Funds LLC now owns 108,377 shares of the company’s stock valued at $1,812,000 after acquiring an additional 5,697 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Movado Group by 11.4% in the 1st quarter. Jane Street Group LLC now owns 104,188 shares of the company’s stock worth $1,742,000 after acquiring an additional 10,670 shares in the last quarter. Institutional investors 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.