PriceSmart, Inc. Shares Rise 0.1% Following March Same-Store Sales Report (NASDAQ:PSMT)
PriceSmart’s (NASDAQ:PSMT) same-store sales fell 1% in the month of March. PriceSmart’s shares climbed by 0.1% in the first full-day of trading following the report.
PSMT has been the topic of a number of recent analyst reports. BidaskClub raised shares of PriceSmart from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 15th. Zacks Investment Research downgraded shares of PriceSmart from a “hold” rating to a “strong sell” rating in a report on Friday, March 29th. Finally, ValuEngine downgraded shares of PriceSmart from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Three research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. PriceSmart currently has an average rating of “Sell” and an average price target of $77.00.
In other PriceSmart news, EVP Frank Ramon Diaz sold 600 shares of the stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $64.86, for a total transaction of $38,916.00. Following the transaction, the executive vice president now directly owns 11,155 shares of the company’s stock, valued at $723,513.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert E. Price sold 10,000 shares of the stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $64.33, for a total transaction of $643,300.00. Following the transaction, the director now directly owns 80 shares in the company, valued at $5,146.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,309 shares of company stock worth $857,764. Insiders own 27.10% of the company’s stock.
PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Tuesday, April 9th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.23. The business had revenue of $854.43 million for the quarter, compared to the consensus estimate of $859.93 million. PriceSmart had a net margin of 2.38% and a return on equity of 11.51%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. On average, research analysts forecast that PriceSmart will post 2.02 EPS for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.35 per share. This represents a yield of 1.15%. The ex-dividend date is Wednesday, August 14th. PriceSmart’s payout ratio is 28.81%.
Large investors have recently bought and sold shares of the company. NumerixS Investment Technologies Inc purchased a new position in shares of PriceSmart in the fourth quarter worth about $52,000. Paradigm Asset Management Co. LLC lifted its stake in shares of PriceSmart by 188.9% in the third quarter. Paradigm Asset Management Co. LLC now owns 1,300 shares of the company’s stock worth $105,000 after buying an additional 850 shares in the last quarter. ETF Managers Group LLC lifted its stake in shares of PriceSmart by 15.6% in the fourth quarter. ETF Managers Group LLC now owns 1,555 shares of the company’s stock worth $92,000 after buying an additional 210 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of PriceSmart in the fourth quarter worth about $141,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of PriceSmart in the fourth quarter worth about $142,000. 75.02% of the stock is currently owned by hedge funds and other institutional investors.
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PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
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