TheStreet downgraded shares of Movado Group (NYSE:MOV) from a b- rating to a c+ rating in a report issued on Monday, TheStreetRatingsTable reports.
Separately, Zacks Investment Research raised Movado Group from a sell rating to a hold rating in a research report on Friday, June 7th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $49.00.
Shares of NYSE:MOV opened at $25.01 on Monday. The stock has a market cap of $589.11 million, a price-to-earnings ratio of 9.37 and a beta of 0.44. The company has a quick ratio of 2.40, a current ratio of 3.99 and a debt-to-equity ratio of 0.26. Movado Group has a 12 month low of $24.48 and a 12 month high of $52.10.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 11th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Monday, June 10th. Movado Group’s payout ratio is 29.96%.
In other news, CEO Efraim Grinberg sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $34.47, for a total value of $689,400.00. Following the completion of the sale, the chief executive officer now owns 204,829 shares of the company’s stock, valued at $7,060,455.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.92% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MOV. United Services Automobile Association boosted its holdings in Movado Group by 15.4% in the fourth quarter. United Services Automobile Association now owns 6,733 shares of the company’s stock valued at $213,000 after purchasing an additional 896 shares during the last quarter. Royce & Associates LP boosted its holdings in Movado Group by 15.8% in the first quarter. Royce & Associates LP now owns 202,170 shares of the company’s stock valued at $7,355,000 after purchasing an additional 27,510 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in Movado Group by 2,038.5% in the fourth quarter. WINTON GROUP Ltd now owns 200,976 shares of the company’s stock valued at $6,355,000 after purchasing an additional 191,578 shares during the last quarter. Martingale Asset Management L P boosted its holdings in Movado Group by 119.4% in the fourth quarter. Martingale Asset Management L P now owns 94,130 shares of the company’s stock valued at $2,977,000 after purchasing an additional 51,217 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in Movado Group in the fourth quarter valued at about $3,478,000. 71.44% of the stock is owned by institutional investors.
About Movado Group
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
See Also: Book Value Per Share in Stock Trading
Receive News & Ratings for Movado Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Movado Group and related companies with MarketBeat.com's FREE daily email newsletter.