Movado Group Inc. (NYSE:MOV) Declares Quarterly Dividend of $0.40

Movado Group Inc. (NYSE:MOV) announced a quarterly dividend on Wednesday, May 27th. Stockholders of record on Wednesday, June 10th will be given a dividend of 0.40 per share on Wednesday, June 24th. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, June 10th. This is a 14.3% increase from Movado Group’s previous quarterly dividend of $0.35.

Movado Group has raised its dividend by an average of 0.7%annually over the last three years.

Movado Group Price Performance

MOV opened at $33.95 on Thursday. Movado Group has a fifty-two week low of $14.70 and a fifty-two week high of $34.29. The business has a 50-day moving average of $26.54 and a 200-day moving average of $23.70. The company has a market capitalization of $749.68 million, a PE ratio of 29.27 and a beta of 0.86.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $142.40 million for the quarter, compared to the consensus estimate of $135.12 million. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. During the same quarter last year, the firm earned $0.06 EPS. On average, equities research analysts expect that Movado Group will post 1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings 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 worth $33,000 after purchasing an additional 449 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Movado Group by 70.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock valued at $36,000 after purchasing an additional 724 shares during the period. Comerica Bank increased its position in shares of Movado Group by 99.0% during the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after purchasing an additional 888 shares during the period. State of Wyoming increased its position in shares of Movado Group by 23.5% during the fourth quarter. State of Wyoming now owns 5,443 shares of the company’s stock valued at $112,000 after purchasing an additional 1,036 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Movado Group by 4.1% during the first quarter. Royal Bank of Canada now owns 26,524 shares of the company’s stock valued at $444,000 after purchasing an additional 1,042 shares during the period. Institutional investors own 72.08% of the company’s stock.

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.