Movado Group Inc. (NYSE:MOV) Announces $0.35 Quarterly Dividend

Movado Group Inc. (NYSE:MOV) announced a quarterly dividend on Thursday, March 19th. Stockholders of record on Thursday, April 2nd will be paid a dividend of 0.35 per share on Thursday, April 16th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Thursday, April 2nd.

Movado Group has raised its dividend by an average of 0.1%per year over the last three years.

Movado Group Price Performance

Shares of MOV traded up $2.15 during trading hours on Thursday, hitting $25.20. 429,821 shares of the company were exchanged, compared to its average volume of 117,604. The company has a market capitalization of $557.93 million, a PE ratio of 25.98 and a beta of 0.93. The firm has a fifty day simple moving average of $23.81 and a 200-day simple moving average of $21.06. Movado Group has a one year low of $12.85 and a one year high of $25.85.

Institutional Investors Weigh In On Movado Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its holdings in Movado Group by 39.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock worth $33,000 after purchasing an additional 449 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in 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 in the last quarter. Comerica Bank raised its holdings in 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 in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Movado Group in the fourth quarter worth about $42,000. Finally, State of Wyoming bought a new stake in shares of Movado Group during the 2nd quarter worth about $40,000. Hedge funds and other 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.