PriceSmart, Inc. Shares Rise 0.1% Following March Same-Store Sales Report (NASDAQ:PSMT)

PriceSmart’s (NASDAQ:PSMT) same store sales decreased by 1% in the month of March. PriceSmart’s shares rose by 0.1% in the first full-day of trading following the report.

Several research analysts recently commented on PSMT shares. BidaskClub upgraded shares of PriceSmart from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 15th. Zacks Investment Research upgraded shares of PriceSmart from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Friday, January 18th. Finally, ValuEngine lowered shares of PriceSmart from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Three analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. The stock presently has a consensus rating of “Sell” and a consensus target price of $77.00.

In related news, Director Robert E. Price sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 80 shares in the company, valued at approximately $5,146.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Frank Ramon Diaz sold 600 shares of the company’s stock in a transaction that occurred 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 owns 11,155 shares in the company, valued at approximately $723,513.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,309 shares of company stock valued at $857,764. 27.10% of the stock is currently owned by company insiders.

PriceSmart stock traded up $0.71 during mid-day trading on Monday, reaching $62.60. 99,600 shares of the company traded hands, compared to its average volume of 158,301. The company has a current ratio of 1.27, a quick ratio of 0.38 and a debt-to-equity ratio of 0.09. PriceSmart has a fifty-two week low of $55.53 and a fifty-two week high of $94.45. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 25.76 and a beta of 0.87.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Tuesday, April 9th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.23. PriceSmart had a net margin of 2.38% and a return on equity of 11.51%. The business had revenue of $854.43 million for the quarter, compared to analyst estimates of $859.93 million. During the same quarter in the prior year, the business posted $0.47 EPS. PriceSmart’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts predict that PriceSmart will post 2.02 EPS for the current fiscal year.

The business also recently declared a semiannual dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a yield of 1.15%. PriceSmart’s payout ratio is 28.81%.

A number of institutional investors have recently modified their holdings of PSMT. NumerixS Investment Technologies Inc acquired a new position in PriceSmart during the 4th quarter valued at approximately $52,000. ETF Managers Group LLC increased its stake in PriceSmart by 15.6% during the 4th quarter. ETF Managers Group LLC now owns 1,555 shares of the company’s stock valued at $92,000 after purchasing an additional 210 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake in PriceSmart by 188.9% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 1,300 shares of the company’s stock valued at $105,000 after purchasing an additional 850 shares in the last quarter. Quantamental Technologies LLC acquired a new position in PriceSmart during the 4th quarter valued at approximately $141,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in PriceSmart during the 4th quarter valued at approximately $142,000. Institutional investors and hedge funds own 75.02% of the company’s stock.

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PriceSmart Company Profile

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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