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

PriceSmart, Inc. (NASDAQ:PSMT) announced a dividend on Thursday, February 5th. Stockholders of record on Monday, August 17th will be given a dividend of 0.70 per share on Monday, August 31st. This represents a dividend yield of 89.0%. The ex-dividend date is Monday, August 17th.

PriceSmart has increased its dividend payment by an average of 0.1%annually 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% meaning its dividend is sufficiently covered by earnings.

PriceSmart Trading Up 3.7%

Shares of PSMT stock traded up $5.53 during mid-day trading on Friday, reaching $156.83. The company’s stock had a trading volume of 297,866 shares, compared to its average volume of 241,595. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $4.83 billion, a PE ratio of 32.01 and a beta of 0.75. The company’s 50 day simple moving average is $132.39 and its 200-day simple moving average is $121.26. PriceSmart has a 12-month low of $81.25 and a 12-month high of $157.86.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. The firm had revenue of $1.38 billion during 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 quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. On average, research analysts predict that PriceSmart will post 5.28 EPS for the current fiscal year.

Insider Activity at PriceSmart

In related news, Director Beatriz V. Infante sold 1,995 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $136.87, for a total value of $273,055.65. Following the sale, the director directly owned 10,879 shares of the company’s stock, valued at $1,489,008.73. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leon C. Janks sold 3,000 shares of the firm’s stock in a transaction 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 directly owned 30,734 shares of the company’s stock, valued at approximately $4,219,470.86. This represents a 8.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,976 shares of company stock worth $2,432,539 in the last ninety days. 17.00% of the stock is currently owned by corporate insiders.

Institutional Trading of PriceSmart

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in PriceSmart by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 740,720 shares of the company’s stock worth $77,812,000 after purchasing an additional 13,119 shares during the last quarter. Boston Trust Walden Corp acquired a new position in PriceSmart during the 3rd quarter worth $21,915,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of PriceSmart during the second quarter valued at $638,000. Exchange Traded Concepts LLC bought a new stake in shares of PriceSmart during the third quarter valued at about $2,222,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in PriceSmart in the second quarter worth about $680,000. Institutional investors and hedge funds 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.