PriceSmart (NASDAQ:PSMT) Reaches New 1-Year High – Time to Buy?

PriceSmart, Inc. (NASDAQ:PSMT) shares hit a new 52-week high on Friday . The stock traded as high as $177.45 and last traded at $175.6650, with a volume of 143109 shares trading hands. The stock had previously closed at $173.07.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

PriceSmart Stock Up 0.5%

The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $5.38 billion, a PE ratio of 34.31 and a beta of 0.78. The firm has a 50-day moving average of $159.69 and a two-hundred day moving average of $145.52.

PriceSmart (NASDAQ:PSMT) last issued its earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.05. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $1.45 EPS.

Insider Buying and Selling

In other PriceSmart news, EVP Francisco Velasco sold 338 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $158.56, for a total value of $53,593.28. Following the transaction, the executive vice president directly owned 75,659 shares of the company’s stock, valued at $11,996,491.04. This trade represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gordon H. Hanson sold 635 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value of $100,076.00. Following the completion of the transaction, the director directly owned 8,149 shares in the company, valued at $1,284,282.40. This trade represents a 7.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,232 shares of company stock valued at $504,198. 17.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in PriceSmart by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,258,234 shares of the company’s stock valued at $152,489,000 after purchasing an additional 10,537 shares during the period. State Street Corp raised its position in PriceSmart by 2.4% in the second quarter. State Street Corp now owns 1,045,998 shares of the company’s stock valued at $109,872,000 after purchasing an additional 24,512 shares during the period. Geode Capital Management LLC raised its position in PriceSmart by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 763,261 shares of the company’s stock valued at $93,640,000 after purchasing an additional 7,095 shares during the period. Victory Capital Management Inc. raised its position in PriceSmart by 37.0% in the third quarter. Victory Capital Management Inc. now owns 651,499 shares of the company’s stock valued at $78,955,000 after purchasing an additional 175,806 shares during the period. Finally, Invesco Ltd. raised its position in PriceSmart by 13.3% in the third quarter. Invesco Ltd. now owns 624,985 shares of the company’s stock valued at $75,742,000 after purchasing an additional 73,419 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

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.