Movado Group said on March 23, 2023 that its board of directors declared a regular
quarterly dividend of $0.35 per share ($1.40 annualized).
Previously, the company paid $0.35 per share.
Shares must be purchased before the ex-div date of April 4, 2023 to qualify for the dividend.
Shareholders of record as of April 5, 2023
will receive the payment on April 19, 2023.
At the current share price of $28.22 / share,
the stock’s dividend yield is 4.96%.
Looking back five years and taking a sample every week, the average dividend yield has been
3.08%,
the lowest has been 1.53%,
and the highest has been 9.15%.
The standard deviation of yields is 1.09 (n=197).
The current dividend yield is
1.73 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.33.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.75%,
demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 37.35% Upside
As of March 24, 2023,
the average one-year price target for Movado Group is $38.76.
The forecasts range from a low of $38.38 to a high of $39.90.
The average price target represents an increase of 37.35% from its latest reported closing price of $28.22.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Movado Group
is $749MM, a decrease of 0.33%.
The projected annual non-GAAP EPS
is $4.05.
What is the Fund Sentiment?
There are 452 funds or institutions reporting positions in Movado Group.
This is an increase
of
2
owner(s) or 0.44% in the last quarter.
Average portfolio weight of all funds dedicated to MOV is 0.11%,
an increase
of 4.48%.
Total shares owned by institutions decreased
in the last three months by 0.34% to 19,291K shares.
The put/call ratio of MOV is 1.38, indicating a
bearish
outlook.
What are Large Shareholders Doing?
Royce & Associates
holds 1,737K shares
representing 7.81% ownership of the company.
In it’s prior filing, the firm reported owning 1,330K shares, representing
an increase
of 23.44%.
The firm
increased
its portfolio allocation in MOV by 38.16% over the last quarter.
IJR – iShares Core S&P Small-Cap ETF
holds 1,178K shares
representing 5.30% ownership of the company.
In it’s prior filing, the firm reported owning 1,172K shares, representing
an increase
of 0.44%.
The firm
increased
its portfolio allocation in MOV by 4.57% over the last quarter.
RYSEX – Royce Special Equity Fund Investment Class
holds 896K shares
representing 4.03% ownership of the company.
In it’s prior filing, the firm reported owning 819K shares, representing
an increase
of 8.59%.
The firm
increased
its portfolio allocation in MOV by 22.72% over the last quarter.
Ameriprise Financial
holds 522K shares
representing 2.35% ownership of the company.
In it’s prior filing, the firm reported owning 532K shares, representing
a decrease
of 1.95%.
The firm
increased
its portfolio allocation in MOV by 5.60% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 446K shares
representing 2.01% ownership of the company.
No change in the last quarter.
Movado Group Background Information
(This description is provided by the company.)
Movado Group, Inc. designs, sources and distributes MOVADO®, MVMT®, OLIVIA BURTON®, EBEL®, CONCORD®, COACH®, TOMMY HILFIGER®, HUGO BOSS®, LACOSTE® and SCUDERIA FERRARI® watches worldwide and operates Movado company stores in the United States and Canada.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
