PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) Director Edgar Zurcher sold 2,259 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $155.17, for a total value of $350,529.03. Following the completion of the transaction, the director directly owned 8,151 shares of the company's stock, valued at $1,264,790.67. This represents a 21.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
PriceSmart Trading Up 2.3%
PSMT opened at $156.56 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10. PriceSmart, Inc. has a 52 week low of $99.14 and a 52 week high of $165.46. The stock has a market cap of $4.84 billion, a PE ratio of 30.88 and a beta of 0.77. The business has a 50 day moving average of $152.54 and a 200-day moving average of $138.39.
PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.05. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.48 billion. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The firm's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 earnings per share.
PriceSmart Dividend Announcement
The firm also recently declared a dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.70 dividend. This represents a dividend yield of 89.0%. The ex-dividend date is Monday, August 17th. PriceSmart's dividend payout ratio (DPR) is presently 27.61%.
Institutional Investors Weigh In On PriceSmart
Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in PriceSmart by 37.0% during the third quarter. Victory Capital Management Inc. now owns 651,499 shares of the company's stock valued at $78,955,000 after acquiring an additional 175,806 shares during the last quarter. Vest Financial LLC boosted its position in PriceSmart by 17.8% in the third quarter. Vest Financial LLC now owns 53,647 shares of the company's stock worth $6,501,000 after purchasing an additional 8,095 shares during the last quarter. Oak Ridge Investments LLC bought a new stake in shares of PriceSmart during the 3rd quarter valued at about $2,931,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of PriceSmart by 24.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 489,201 shares of the company's stock valued at $59,286,000 after purchasing an additional 97,598 shares during the period. Finally, Comerica Bank increased its position in shares of PriceSmart by 77.2% during the 4th quarter. Comerica Bank now owns 33,224 shares of the company's stock valued at $4,076,000 after purchasing an additional 14,475 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently commented on PSMT. Weiss Ratings lowered shares of PriceSmart from a "buy (a-)" rating to a "buy (b)" rating in a research note on Tuesday, April 14th. 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, PriceSmart presently has a consensus rating of "Buy".
View Our Latest Stock Analysis on PriceSmart
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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