Movado Group (NYSE:MOV) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Movado Group (NYSE:MOV) from a buy rating to a hold rating in a research report report published on Thursday morning.

Separately, BWS Financial started coverage on shares of Movado Group in a research note on Thursday, January 2nd. They set a “buy” rating and a $31.50 price target on the stock.

Movado Group Price Performance

Shares of MOV stock opened at $19.85 on Thursday. The business’s fifty day moving average price is $19.72 and its 200 day moving average price is $20.38. Movado Group has a 1-year low of $17.86 and a 1-year high of $29.25. The firm has a market capitalization of $439.48 million, a PE ratio of 19.09 and a beta of 1.00.

Movado Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date of this dividend was Monday, December 16th. Movado Group’s dividend payout ratio is currently 134.62%.

Hedge Funds Weigh In On Movado Group

Several hedge funds and other institutional investors have recently bought and sold shares of MOV. Teton Advisors Inc. increased its position in shares of Movado Group by 68.7% in the fourth quarter. Teton Advisors Inc. now owns 49,100 shares of the company’s stock valued at $966,000 after buying an additional 20,000 shares in the last quarter. Barclays PLC grew its stake in Movado Group by 5.3% in the 4th quarter. Barclays PLC now owns 28,080 shares of the company’s stock valued at $552,000 after acquiring an additional 1,416 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Movado Group by 40.8% in the 4th quarter. Russell Investments Group Ltd. now owns 38,573 shares of the company’s stock valued at $759,000 after acquiring an additional 11,187 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Movado Group during the 4th quarter valued at about $284,000. Finally, Wells Fargo & Company MN raised its position in Movado Group by 18.4% during the fourth quarter. Wells Fargo & Company MN now owns 14,372 shares of the company’s stock worth $283,000 after acquiring an additional 2,234 shares during the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

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.