Movado Group (NYSE:MOV) Reaches New 1-Year High – Still a Buy?

Movado Group Inc. (NYSE:MOV)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $39.64 and last traded at $39.1250, with a volume of 8318 shares. The stock had previously closed at $39.58.

Analysts Set New Price Targets

Several research firms have weighed in on MOV. Northland Securities set a $35.00 target price on Movado Group in a report on Wednesday, May 27th. Weiss Ratings downgraded Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 28th. BWS Financial raised their price target on Movado Group from $31.50 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Zacks Research upgraded Movado Group from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Movado Group currently has an average rating of “Buy” and an average price target of $40.00.

Movado Group Stock Up 0.2%

The company has a market cap of $876.09 million, a price-to-earnings ratio of 28.26 and a beta of 0.97. The company’s fifty day moving average price is $32.19 and its two-hundred day moving average price is $26.50.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $142.40 million for the quarter, compared to analyst estimates of $135.12 million. Movado Group had a net margin of 4.70% and a return on equity of 7.13%. During the same period last year, the business posted $0.06 earnings per share. On average, equities research analysts predict that Movado Group Inc. will post 1.83 earnings per share for the current fiscal year.

Movado Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 4.0%. This is a positive change from Movado Group’s previous quarterly dividend of $0.35. Movado Group’s dividend payout ratio (DPR) is 114.29%.

Institutional Trading of Movado Group

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Movado Group by 5.9% during the third quarter. Vanguard Group Inc. now owns 1,029,220 shares of the company’s stock worth $19,524,000 after buying an additional 57,353 shares during the period. Goldman Sachs Group Inc. raised its position in Movado Group by 3.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 888,244 shares of the company’s stock valued at $18,316,000 after buying an additional 29,137 shares during the last quarter. Brandes Investment Partners LP raised its position in Movado Group by 5.6% in the 4th quarter. Brandes Investment Partners LP now owns 704,036 shares of the company’s stock valued at $14,517,000 after buying an additional 37,587 shares during the last quarter. Ameriprise Financial Inc. raised its position in Movado Group by 14.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock valued at $9,712,000 after buying an additional 80,109 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Movado Group by 19.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 388,418 shares of the company’s stock valued at $8,009,000 after acquiring an additional 62,278 shares in the last quarter. 72.08% of the stock is currently owned by 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.