PriceSmart (NASDAQ:PSMT) Reaches New 1-Year High – Here’s What Happened

Shares of PriceSmart, Inc. (NASDAQ:PSMT) hit a new 52-week high on Friday . The company traded as high as $102.75 and last traded at $102.23, with a volume of 3552 shares trading hands. The stock had previously closed at $101.23.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of PriceSmart from a “hold” rating to a “buy” rating in a report on Monday, March 10th.

PriceSmart Price Performance

The company has a market cap of $3.10 billion, a PE ratio of 22.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 0.43. The stock’s 50-day moving average is $89.70 and its 200 day moving average is $90.61.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.51 by ($0.06). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. PriceSmart had a net margin of 2.76% and a return on equity of 12.29%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 EPS. On average, equities analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a $0.63 dividend. The ex-dividend date was Tuesday, February 18th. PriceSmart’s dividend payout ratio (DPR) is presently 26.92%.

Insider Buying and Selling

In other PriceSmart news, EVP Paul Kovaleski sold 896 shares of PriceSmart stock in a transaction on Friday, April 25th. The shares were sold at an average price of $100.85, for a total value of $90,361.60. Following the completion of the transaction, the executive vice president now owns 43,039 shares of the company’s stock, valued at approximately $4,340,483.15. The trade was a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Fisher sold 1,700 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $95.00, for a total transaction of $161,500.00. Following the sale, the director now directly owns 16,911 shares in the company, valued at approximately $1,606,545. The trade was a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,796 shares of company stock valued at $270,866 over the last ninety days. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PSMT. Sterling Capital Management LLC raised its position in PriceSmart by 536.7% during the fourth quarter. Sterling Capital Management LLC now owns 312 shares of the company’s stock worth $29,000 after acquiring an additional 263 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of PriceSmart during the 4th quarter worth about $53,000. Fifth Third Bancorp lifted its stake in PriceSmart by 119.7% in the 1st quarter. Fifth Third Bancorp now owns 635 shares of the company’s stock valued at $56,000 after buying an additional 346 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in PriceSmart by 24.3% in the 1st quarter. First Horizon Advisors Inc. now owns 654 shares of the company’s stock worth $57,000 after buying an additional 128 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in PriceSmart by 3,905.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 681 shares of the company’s stock worth $63,000 after buying an additional 664 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.