PriceSmart, Inc. Announces Dividend of $0.70 (NASDAQ:PSMT)

PriceSmart, Inc. (NASDAQ:PSMT) declared a dividend on Thursday, February 5th. Stockholders of record on Tuesday, February 17th will be paid a dividend of 0.70 per share on Friday, February 27th. This represents a dividend yield of 89.0%. The ex-dividend date is Tuesday, February 17th.

PriceSmart has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. PriceSmart has a payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings.

PriceSmart Price Performance

Shares of PriceSmart stock traded up $5.51 during midday trading on Friday, hitting $156.81. 195,271 shares of the company were exchanged, compared to its average volume of 235,243. The firm has a 50 day simple moving average of $132.39 and a 200-day simple moving average of $121.26. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.33 and a quick ratio of 0.55. The firm has a market cap of $4.83 billion, a P/E ratio of 32.00 and a beta of 0.75. PriceSmart has a 52 week low of $81.25 and a 52 week high of $157.86.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, January 7th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 earnings per share. Research analysts forecast that PriceSmart will post 5.28 earnings per share for the current year.

Insider Activity at PriceSmart

In related news, COO John D. Hildebrandt sold 7,421 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Beatriz V. Infante sold 1,995 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $136.87, for a total transaction of $273,055.65. Following the completion of the transaction, the director owned 10,879 shares of the company’s stock, valued at $1,489,008.73. This trade represents a 15.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 17,976 shares of company stock valued at $2,432,539 over the last three months. 17.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On PriceSmart

Several hedge funds have recently added to or reduced their stakes in PSMT. Geneos Wealth Management Inc. increased its position in PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of PriceSmart during the 2nd quarter worth approximately $28,000. First Horizon Corp bought a new stake in shares of PriceSmart during the third quarter worth approximately $30,000. CENTRAL TRUST Co acquired a new position in PriceSmart in the fourth quarter valued at approximately $32,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in PriceSmart by 52.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

About PriceSmart

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.