Movado Group, Inc. (NYSE:MOV – Get Free Report) declared a quarterly dividend on Thursday, September 5th, RTT News reports. Investors of record on Monday, September 16th will be paid a dividend of 0.35 per share on Monday, September 30th. This represents a $1.40 annualized dividend and a yield of 7.27%. The ex-dividend date of this dividend is Monday, September 16th.
Movado Group has a payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings.
Movado Group Stock Down 14.7 %
Shares of NYSE MOV opened at $19.27 on Friday. The company has a market cap of $427.99 million, a price-to-earnings ratio of 10.77 and a beta of 1.00. Movado Group has a 12-month low of $19.00 and a 12-month high of $31.44. The firm’s 50-day simple moving average is $24.45 and its 200 day simple moving average is $25.88.
Analyst Ratings Changes
Separately, Benchmark reaffirmed a “buy” rating and issued a $41.00 price target on shares of Movado Group in a research note on Friday, May 31st.
Insider Activity
In other news, SVP Michelle Kennedy sold 1,245 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total value of $32,432.25. Following the completion of the sale, the senior vice president now directly owns 12,202 shares of the company’s stock, valued at approximately $317,862.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 30.11% of the stock is currently owned by company insiders.
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.
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