Movado Group (NYSE:MOV) Hits New 1-Year Low at $23.92

Movado Group, Inc. (NYSE:MOV) hit a new 52-week low on Friday . The stock traded as low as $23.92 and last traded at $24.01, with a volume of 20179 shares changing hands. The stock had previously closed at $24.72.

Analysts Set New Price Targets

Separately, Benchmark reissued a “buy” rating and set a $41.00 price objective on shares of Movado Group in a report on Friday, May 31st.

Movado Group Price Performance

The firm has a market capitalization of $534.59 million, a P/E ratio of 13.45 and a beta of 1.04. The firm has a fifty day simple moving average of $25.95 and a two-hundred day simple moving average of $27.28.

Movado Group (NYSE:MOV) last posted its earnings results on Thursday, May 30th. The company reported $0.13 earnings per share (EPS) for the quarter. The firm had revenue of $136.67 million for the quarter. Movado Group had a return on equity of 8.18% and a net margin of 6.09%. On average, research analysts anticipate that Movado Group, Inc. will post 1.25 EPS for the current year.

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.82%. Movado Group’s dividend payout ratio (DPR) is presently 78.21%.

Institutional Investors Weigh In On Movado Group

A number of institutional investors and hedge funds have recently made changes to their positions in MOV. Ancora Advisors LLC raised its position in Movado Group by 13.2% during the first quarter. Ancora Advisors LLC now owns 48,825 shares of the company’s stock valued at $1,364,000 after purchasing an additional 5,696 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Movado Group during the first quarter valued at about $221,000. Price T Rowe Associates Inc. MD raised its position in Movado Group by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,719 shares of the company’s stock valued at $495,000 after purchasing an additional 779 shares in the last quarter. PEAK6 Investments LLC raised its position in Movado Group by 158.5% during the first quarter. PEAK6 Investments LLC now owns 18,954 shares of the company’s stock valued at $529,000 after purchasing an additional 11,623 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Movado Group by 7.8% during the first quarter. Quadrature Capital Ltd now owns 12,183 shares of the company’s stock valued at $340,000 after buying an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

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.