Movado Group, Inc. (MOV) To Go Ex-Dividend on April 8th

Movado Group, Inc. (NYSE:MOV) announced a quarterly dividend on Tuesday, March 26th, NASDAQ reports. Stockholders of record on Tuesday, April 9th will be given a dividend of 0.35 per share on Tuesday, April 23rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Monday, April 8th.

Movado Group has a dividend payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings.

Movado Group Price Performance

NYSE MOV opened at $27.66 on Thursday. The stock has a market capitalization of $610.73 million, a price-to-earnings ratio of 13.43 and a beta of 1.13. Movado Group has a one year low of $23.94 and a one year high of $31.44. The business’s fifty day moving average is $27.88 and its 200-day moving average is $28.19.

Wall Street Analyst Weigh In

Separately, Benchmark restated a “buy” rating and issued a $41.00 price objective on shares of Movado Group in a research note on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Movado Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 1,138,788 shares of the company’s stock valued at $34,334,000 after buying an additional 5,296 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Movado Group by 6.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 11,677 shares of the company’s stock valued at $352,000 after buying an additional 720 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Movado Group by 0.8% during the fourth quarter. Legal & General Group Plc now owns 42,205 shares of the company’s stock worth $1,272,000 after purchasing an additional 351 shares in the last quarter. Barclays PLC grew its holdings in shares of Movado Group by 87.8% during the fourth quarter. Barclays PLC now owns 36,490 shares of the company’s stock worth $1,101,000 after purchasing an additional 17,064 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Movado Group by 1.1% during the fourth quarter. Nuveen Asset Management LLC now owns 63,272 shares of the company’s stock worth $1,908,000 after purchasing an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

About Movado Group

Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.