PriceSmart (NASDAQ:PSMT) Sets New 12-Month High – Here’s Why

PriceSmart, Inc. (NASDAQ:PSMT)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $158.01 and last traded at $157.42, with a volume of 183668 shares. The stock had previously closed at $154.62.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PSMT. Weiss Ratings downgraded shares of PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, January 12th. Wall Street Zen cut shares of PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

PriceSmart Stock Performance

The company’s fifty day simple moving average is $141.36 and its two-hundred day simple moving average is $126.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.55 and a current ratio of 1.33. The stock has a market capitalization of $4.85 billion, a P/E ratio of 32.13 and a beta of 0.73.

PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, January 7th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. As a group, equities analysts forecast that PriceSmart, Inc. will post 5.28 EPS for the current year.

PriceSmart Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a dividend yield of 89.0%. PriceSmart’s dividend payout ratio (DPR) is currently 28.57%.

Insider Buying and Selling at PriceSmart

In other PriceSmart news, COO John D. Hildebrandt sold 7,421 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $136.88, for a total value of $1,015,786.48. Following the completion of the sale, the chief operating officer owned 108,194 shares of the company’s stock, valued at $14,809,594.72. The trade was a 6.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leon C. Janks sold 3,000 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $137.29, for a total transaction of $411,870.00. Following the transaction, the director owned 30,734 shares in the company, valued at approximately $4,219,470.86. The trade was a 8.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 16,671 shares of company stock worth $2,283,051. Insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On PriceSmart

Several institutional investors have recently made changes to their positions in PSMT. Advisors Asset Management Inc. grew its position in PriceSmart by 124.2% during the first quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock worth $59,000 after buying an additional 370 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of PriceSmart by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company’s stock valued at $1,310,000 after acquiring an additional 648 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of PriceSmart by 41.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company’s stock valued at $16,069,000 after acquiring an additional 53,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of PriceSmart by 12.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,642 shares of the company’s stock worth $6,206,000 after purchasing an additional 7,717 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of PriceSmart by 34.7% in the first quarter. Intech Investment Management LLC now owns 18,673 shares of the company’s stock worth $1,640,000 after purchasing an additional 4,806 shares during the period. 80.46% of the stock is currently owned by institutional investors.

PriceSmart Company Profile

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.