PriceSmart (NASDAQ:PSMT) Sets New 1-Year High – What’s Next?

PriceSmart, Inc. (NASDAQ:PSMT)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $157.87 and last traded at $156.73, with a volume of 20328 shares. The stock had previously closed at $155.12.

Wall Street Analyst Weigh In

PSMT has been the topic of a number of recent analyst reports. 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 analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

PriceSmart Stock Performance

The firm’s 50-day moving average is $135.99 and its 200 day moving average is $123.29. The stock has a market cap of $4.80 billion, a PE ratio of 31.77 and a beta of 0.75. 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 Announces Dividend

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

Insider Buying and Selling

In other news, Director Leon C. Janks sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $137.29, for a total value of $411,870.00. Following the transaction, the director owned 30,734 shares of the company’s stock, valued at approximately $4,219,470.86. The trade was a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John D. Hildebrandt sold 7,421 shares of the business’s 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 directly owned 108,194 shares in the company, valued at $14,809,594.72. This represents a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 16,671 shares of company stock valued at $2,283,051. Company insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On PriceSmart

Institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in shares of PriceSmart by 124.2% during the 1st 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 holdings in PriceSmart by 4.5% in the first 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 holdings in PriceSmart by 41.7% in the first 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 stake 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 during the period. Finally, Intech Investment Management LLC increased its holdings in shares of PriceSmart by 34.7% in the 1st quarter. Intech Investment Management LLC now owns 18,673 shares of the company’s stock valued at $1,640,000 after purchasing an additional 4,806 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

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.