Key Points
- Director Gordon Hanson sold 635 shares on April 30 at an average price of $157.60 for a total of $100,076, reducing his holding by 7.23% to 8,149 shares.
- PriceSmart beat Q earnings expectations, reporting EPS of $1.62 vs. $1.57 consensus and revenue of $1.50 billion (up 9.7% year-over-year).
- Company announced a $0.70 dividend payable August 31 to shareholders of record August 17 (ex-dividend August 17); the article reports a yield of 89.0% and a payout ratio of 27.61%.
PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) Director Gordon Hanson sold 635 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total transaction of $100,076.00. Following the completion of the sale, the director owned 8,149 shares of the company's stock, valued at approximately $1,284,282.40. The trade was a 7.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
PriceSmart Stock Down 3.2%
PSMT stock opened at $153.11 on Tuesday. PriceSmart, Inc. has a 12-month low of $99.14 and a 12-month high of $165.46. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 30.20 and a beta of 0.77. The company has a 50 day moving average of $152.49 and a two-hundred day moving average of $138.16.
PriceSmart (NASDAQ:PSMT - Get Free Report) last released its earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.05. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The company's revenue was up 9.7% compared to the same quarter last year.
PriceSmart Announces Dividend
The business also recently announced a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.70 dividend. The ex-dividend date is Monday, August 17th. This represents a yield of 89.0%. PriceSmart's dividend payout ratio is presently 27.61%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of PriceSmart from a "buy" rating to a "hold" rating in a research report on Sunday, January 11th. Weiss Ratings downgraded shares of PriceSmart from a "buy (a-)" rating to a "buy (b)" rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, PriceSmart currently has an average rating of "Buy".
Get Our Latest Research Report on PriceSmart
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in PriceSmart by 37.0% in the 3rd quarter. Victory Capital Management Inc. now owns 651,499 shares of the company's stock valued at $78,955,000 after buying an additional 175,806 shares during the last quarter. Vest Financial LLC grew its stake in PriceSmart by 17.8% in the 3rd quarter. Vest Financial LLC now owns 53,647 shares of the company's stock valued at $6,501,000 after buying an additional 8,095 shares during the last quarter. Oak Ridge Investments LLC acquired a new position in PriceSmart in the 3rd quarter valued at $2,931,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in PriceSmart by 24.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 489,201 shares of the company's stock worth $59,286,000 after purchasing an additional 97,598 shares during the last quarter. Finally, Comerica Bank grew its position in PriceSmart by 77.2% in the 4th quarter. Comerica Bank now owns 33,224 shares of the company's stock worth $4,076,000 after purchasing an additional 14,475 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.
About PriceSmart
(
Get Free Report)
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.
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