Movado Group (NYSE:MOV) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Movado Group Inc. (NYSE:MOV) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.84 and traded as high as $38.50. Movado Group shares last traded at $38.3550, with a volume of 401,402 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MOV shares. Zacks Research upgraded shares of Movado Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Northland Securities set a $35.00 target price on Movado Group in a research note on Wednesday, May 27th. BWS Financial upped their price target on Movado Group from $31.50 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings downgraded Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Movado Group has a consensus rating of “Buy” and a consensus price target of $40.00.

Movado Group Price Performance

The firm’s 50 day moving average price is $31.01 and its two-hundred day moving average price is $25.84. The stock has a market cap of $846.88 million, a PE ratio of 27.40 and a beta of 0.98.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. The company had revenue of $142.40 million for the quarter, compared to analysts’ expectations of $135.12 million. Movado Group had a net margin of 4.70% and a return on equity of 7.13%. During the same period in the prior year, the company posted $0.06 EPS. Analysts anticipate that Movado Group Inc. will post 1.83 earnings per share for the current year.

Movado Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, June 10th. This is a positive change from Movado Group’s previous quarterly dividend of $0.35. Movado Group’s payout ratio is presently 114.29%.

Hedge Funds Weigh In On Movado Group

A number of large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in shares of Movado Group by 39.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after acquiring an additional 449 shares during the last quarter. Comerica Bank increased its position in shares of Movado Group by 99.0% in the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after purchasing an additional 888 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Movado Group by 70.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock worth $36,000 after purchasing an additional 724 shares during the last quarter. Fifth Third Bancorp raised its stake in Movado Group by 16,040.0% in the first quarter. Fifth Third Bancorp now owns 1,614 shares of the company’s stock valued at $39,000 after purchasing an additional 1,604 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Movado Group in the second quarter valued at approximately $40,000. 72.08% of the stock is owned by institutional investors.

About Movado Group

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.