Movado Group (NYSE:MOV) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Movado Group Inc. (NYSE:MOV)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $28.24 and traded as high as $39.26. Movado Group shares last traded at $38.67, with a volume of 221,329 shares trading hands.

Analysts Set New Price Targets

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

Movado Group Stock Down 2.8%

The business has a 50-day moving average price of $35.31 and a 200-day moving average price of $28.24. The firm has a market capitalization of $853.76 million, a P/E ratio of 27.62 and a beta of 0.96.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The firm had revenue of $142.40 million for the quarter, compared to the consensus estimate of $135.12 million. Movado Group had a net margin of 4.70% and a return on equity of 7.13%. During the same quarter in the previous year, the company earned $0.06 earnings per share. As a group, sell-side analysts forecast that Movado Group Inc. will post 1.83 EPS for the current year.

Movado Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.1%. This is a boost from Movado Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, June 10th. Movado Group’s dividend payout ratio (DPR) is currently 114.29%.

Institutional Investors Weigh In On Movado Group

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Movado Group by 5.9% during the 3rd 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 stake in Movado Group by 3.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 888,244 shares of the company’s stock worth $18,316,000 after acquiring an additional 29,137 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Movado Group by 5.6% during the fourth quarter. Brandes Investment Partners LP now owns 704,036 shares of the company’s stock valued at $14,517,000 after acquiring an additional 37,587 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Movado Group by 14.4% during the second quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock valued at $9,712,000 after acquiring an additional 80,109 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 purchasing an additional 62,278 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors.

Movado Group Company Profile

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.