PriceSmart (NASDAQ:PSMT) Hits New 52-Week High – Here’s Why

Shares of PriceSmart, Inc. (NASDAQ:PSMT) reached a new 52-week high on Wednesday . The company traded as high as $148.46 and last traded at $148.4350, with a volume of 28457 shares. The stock had previously closed at $147.23.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PSMT shares. Weiss Ratings downgraded shares of PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, January 12th. Wall Street Zen downgraded shares of PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

PriceSmart Stock Performance

The stock has a market cap of $4.83 billion, a PE ratio of 32.01 and a beta of 0.75. The firm’s 50-day moving average is $133.07 and its 200 day moving average is $121.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.55 and a current ratio of 1.33.

PriceSmart (NASDAQ:PSMT) last issued 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 company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. PriceSmart had a net margin of 2.79% and a return on equity of 12.20%. PriceSmart’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. As a group, research analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current year.

PriceSmart Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given a $0.70 dividend. This represents a yield of 89.0%. The ex-dividend date is Monday, August 17th. PriceSmart’s payout ratio is 25.71%.

Insider Buying and Selling

In related news, Director Leon C. Janks sold 3,000 shares of the 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 completion of the sale, the director directly owned 30,734 shares of the company’s stock, valued at $4,219,470.86. This trade represents a 8.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John D. Hildebrandt sold 7,421 shares of PriceSmart stock in a transaction on Monday, January 12th. The shares were sold at an average price of $136.88, for a total transaction of $1,015,786.48. Following the completion of the transaction, the chief operating officer owned 108,194 shares in the company, valued at approximately $14,809,594.72. This trade represents a 6.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,976 shares of company stock valued at $2,432,539 over the last 90 days. Insiders own 17.00% of the company’s stock.

Institutional Trading of PriceSmart

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC raised its holdings in PriceSmart by 4,084.6% during the fourth quarter. Global Retirement Partners LLC now owns 1,088 shares of the company’s stock worth $133,000 after purchasing an additional 1,062 shares in the last quarter. PNC Financial Services Group Inc. increased its position in PriceSmart by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,039 shares of the company’s stock worth $495,000 after purchasing an additional 130 shares during the period. ProShare Advisors LLC raised its stake in shares of PriceSmart by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 4,985 shares of the company’s stock worth $612,000 after buying an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of PriceSmart by 20,600.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 36,225 shares of the company’s stock worth $4,444,000 after buying an additional 36,050 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of PriceSmart by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,812 shares of the company’s stock valued at $713,000 after buying an additional 100 shares during the period. Hedge funds and other 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.