Movado Group (NYSE:MOV) Upgraded at StockNews.com

StockNews.com upgraded shares of Movado Group (NYSE:MOV) from a hold rating to a buy rating in a report issued on Monday.

Separately, BWS Financial assumed coverage on Movado Group in a report on Thursday, January 2nd. They set a “buy” rating and a $31.50 price objective on the stock.

Movado Group Stock Up 0.2 %

MOV stock opened at $20.16 on Monday. Movado Group has a 52-week low of $17.86 and a 52-week high of $29.14. The stock’s 50 day moving average is $19.57 and its two-hundred day moving average is $20.06. The company has a market capitalization of $446.29 million, a PE ratio of 19.38 and a beta of 1.00.

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 6.95%. Movado Group’s dividend payout ratio is presently 134.62%.

Institutional Investors Weigh In On Movado Group

A number of institutional investors have recently made changes to their positions in MOV. KLP Kapitalforvaltning AS bought a new stake in shares of Movado Group in the 4th quarter valued at approximately $47,000. Point72 DIFC Ltd bought a new stake in shares of Movado Group in the 3rd quarter valued at approximately $78,000. FMR LLC increased its holdings in shares of Movado Group by 393.0% in the 3rd quarter. FMR LLC now owns 7,400 shares of the company’s stock valued at $138,000 after acquiring an additional 5,899 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of Movado Group in the 3rd quarter valued at approximately $187,000. Finally, Intech Investment Management LLC bought a new stake in shares of Movado Group in the 3rd quarter valued at approximately $200,000. 72.08% of the stock is currently owned by institutional investors.

Movado Group Company Profile

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