Aptus Capital Advisors LLC Invests $9.73 Million in PriceSmart, Inc. $PSMT

Aptus Capital Advisors LLC bought a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 80,310 shares of the company’s stock, valued at approximately $9,733,000. Aptus Capital Advisors LLC owned 0.26% of PriceSmart as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Corp acquired a new position in PriceSmart in the 3rd quarter worth $30,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in PriceSmart during the 2nd quarter valued at approximately $28,000. Geneos Wealth Management Inc. increased its holdings in PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Mather Group LLC. purchased a new position in shares of PriceSmart during the 3rd quarter valued at approximately $39,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of PriceSmart by 52.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PSMT shares. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings lowered shares of PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, PriceSmart has a consensus rating of “Buy”.

PriceSmart Price Performance

Shares of NASDAQ:PSMT opened at $145.16 on Friday. The company’s fifty day moving average is $144.00 and its two-hundred day moving average is $127.72. The company has a market cap of $4.47 billion, a P/E ratio of 29.62 and a beta of 0.73. PriceSmart, Inc. has a 12-month low of $81.25 and a 12-month high of $158.01. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11.

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

PriceSmart Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.70 per share. This represents a yield of 89.0%. The ex-dividend date is Monday, August 17th. PriceSmart’s dividend payout ratio (DPR) is 28.57%.

Insider Activity

In related news, COO John D. Hildebrandt sold 7,421 shares of the stock in a transaction dated 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 owned 108,194 shares of the company’s stock, valued at $14,809,594.72. This represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Beatriz V. Infante sold 1,995 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $136.87, for a total value of $273,055.65. Following the completion of the sale, the director directly owned 10,879 shares in the company, valued at approximately $1,489,008.73. This represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,671 shares of company stock worth $2,283,051. 17.00% of the stock is owned by company insiders.

About PriceSmart

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.