Key Points
- PriceSmart COO John Hildebrandt sold 11,834 shares for about $1.99 million at an average price of $168.23, reducing his stake by 10.42% to 101,699 shares.
- PriceSmart shares were reported down 3.7%; the stock opened at $160.61 and has traded between $114.38 and $199.84 over the past year.
- Quarterly revenue rose 13.9% year over year to $1.52 billion, beating expectations, while EPS of $1.21 fell short of the $1.27 consensus. Analysts’ average price target is $198, with a consensus “Buy” rating.
PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) COO John Hildebrandt sold 11,834 shares of the firm's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $168.23, for a total transaction of $1,990,833.82. Following the completion of the sale, the chief operating officer owned 101,699 shares in the company, valued at $17,108,822.77. This represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
PriceSmart Stock Down 3.7%
Shares of PriceSmart stock opened at $160.61 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 1.24 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.97 billion, a P/E ratio of 29.74 and a beta of 0.80. The firm's 50 day moving average price is $170.25 and its 200-day moving average price is $166.54. PriceSmart, Inc. has a 52-week low of $114.38 and a 52-week high of $199.84.
PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its earnings results on Monday, October 26th. The company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The firm had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.46 billion. PriceSmart had a net margin of 2.83% and a return on equity of 12.15%. The company's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of PriceSmart in a report on Wednesday, August 26th. Jefferies Financial Group restated a "buy" rating and set a $198.00 target price on shares of PriceSmart in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $198.00.
Check Out Our Latest Stock Analysis on PSMT
Hedge Funds Weigh In On PriceSmart
Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP purchased a new stake in PriceSmart during the 2nd quarter worth approximately $15,197,000. Bank of America Corp DE acquired a new position in PriceSmart during the 2nd quarter valued at approximately $30,962,000. The Manufacturers Life Insurance Company acquired a new position in PriceSmart during the 2nd quarter valued at approximately $2,734,000. Foster & Motley Inc. purchased a new position in shares of PriceSmart in the second quarter worth $1,475,000. Finally, California State Teachers Retirement System raised its holdings in shares of PriceSmart by 22.7% in the first quarter. California State Teachers Retirement System now owns 30,720 shares of the company's stock worth $4,623,000 after buying an additional 5,680 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.
About PriceSmart
(
Get Free Report)
PriceSmart, Inc operates membership warehouse clubs serving consumers and businesses in Latin America and the Caribbean. The company offers a broad selection of products at value-oriented prices, including groceries, fresh foods, beverages, household supplies, apparel, appliances, electronics, furniture and other general merchandise.
Through its warehouse clubs and digital commerce platforms, PriceSmart provides shopping and delivery options designed for both individual members and small businesses.
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