PriceSmart (NASDAQ:PSMT) Reaches New 52-Week High – Here’s What Happened

PriceSmart, Inc. (NASDAQ:PSMT) shares hit a new 52-week high during trading on Monday . The company traded as high as $158.01 and last traded at $157.42, with a volume of 183668 shares trading hands. The stock had previously closed at $154.62.

Wall Street Analyst Weigh In

PSMT has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings lowered PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

PriceSmart Trading Up 1.8%

The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $4.85 billion, a P/E ratio of 32.13 and a beta of 0.73. The company has a fifty day simple moving average of $141.36 and a two-hundred day simple moving average of $126.56.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $1.21 earnings per share. PriceSmart’s revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts expect that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

PriceSmart Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a dividend yield of 89.0%. PriceSmart’s dividend payout ratio is currently 28.57%.

Insider Activity at PriceSmart

In related news, COO John D. Hildebrandt sold 7,421 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $136.88, for a total value of $1,015,786.48. Following the completion of the transaction, the chief operating officer directly owned 108,194 shares of the company’s stock, valued at approximately $14,809,594.72. This represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul Kovaleski sold 4,255 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.86, for a total value of $582,339.30. Following the transaction, the executive vice president directly owned 38,854 shares of the company’s stock, valued at $5,317,558.44. This represents a 9.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,671 shares of company stock valued at $2,283,051. 17.00% of the stock is owned by insiders.

Institutional Trading of PriceSmart

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. grew its position in PriceSmart by 124.2% in the first quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock valued at $59,000 after purchasing an additional 370 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PriceSmart by 4.5% in the 1st 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 in the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in PriceSmart by 12.3% during the first 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 acquiring an additional 7,717 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in PriceSmart by 34.7% during the first 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 during the last quarter. 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.