Movado Group (NYSE:MOV) Reaches New 12-Month High – Should You Buy?

Movado Group Inc. (NYSE:MOV) reached a new 52-week high during trading on Friday . The stock traded as high as $23.08 and last traded at $23.0850, with a volume of 71144 shares traded. The stock had previously closed at $22.89.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a research note on Monday. BWS Financial reissued a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research note on Wednesday, November 26th. Northland Securities assumed coverage on shares of Movado Group in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 price target on the stock. Wall Street Zen downgraded Movado Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Movado Group Trading Up 0.8%

The firm has a 50-day simple moving average of $21.51 and a two-hundred day simple moving average of $19.12. The company has a market capitalization of $510.66 million, a price-to-earnings ratio of 23.75 and a beta of 0.90.

Movado Group (NYSE:MOV) last posted its earnings results on Tuesday, November 25th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.12). The firm had revenue of $186.13 million for the quarter, compared to analysts’ expectations of $185.89 million. Movado Group had a net margin of 3.33% and a return on equity of 5.86%. During the same period last year, the firm earned $0.22 earnings per share. Equities research analysts anticipate that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Monday, December 8th. Movado Group’s dividend payout ratio (DPR) is 144.33%.

Insider Activity

In related news, SVP Michelle Kennedy sold 1,290 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total transaction of $26,948.10. Following the completion of the sale, the senior vice president directly owned 27,857 shares in the company, valued at approximately $581,932.73. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Movado Group

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in Movado Group by 4.1% in the 1st quarter. Royal Bank of Canada now owns 26,524 shares of the company’s stock worth $444,000 after purchasing an additional 1,042 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Movado Group by 26.5% during the 1st quarter. AQR Capital Management LLC now owns 129,746 shares of the company’s stock worth $2,169,000 after buying an additional 27,182 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Movado Group by 212.8% in the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock valued at $11,226,000 after purchasing an additional 456,727 shares during the period. Empowered Funds LLC raised its holdings in Movado Group by 5.5% in the 1st quarter. Empowered Funds LLC now owns 108,377 shares of the company’s stock valued at $1,812,000 after buying an additional 5,697 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of Movado Group by 11.4% in the 1st quarter. Jane Street Group LLC now owns 104,188 shares of the company’s stock valued at $1,742,000 after acquiring an additional 10,670 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Movado Group Company Profile

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.