PriceSmart (NASDAQ:PSMT) Reaches New 52-Week High – Still a Buy?

PriceSmart, Inc. (NASDAQ:PSMT)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $197.59 and last traded at $194.6980, with a volume of 886441 shares. The stock had previously closed at $196.25.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

PriceSmart Price Performance

The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 38.53 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.52 and a current ratio of 1.29. The company has a fifty day simple moving average of $169.98 and a two-hundred day simple moving average of $153.08.

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

Insider Buying and Selling

In related news, Director Gordon H. Hanson sold 635 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total transaction of $100,076.00. Following the sale, the director owned 8,149 shares in the company, valued at approximately $1,284,282.40. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $158.56, for a total transaction of $53,593.28. Following the completion of the transaction, the executive vice president directly owned 75,659 shares in the company, valued at $11,996,491.04. This trade represents a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,232 shares of company stock valued at $504,198 over the last quarter. 17.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On PriceSmart

Large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in shares of PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 252 shares during the last quarter. UMB Bank n.a. lifted its position in shares of PriceSmart by 76.0% during the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after buying an additional 98 shares during the last quarter. CENTRAL TRUST Co bought a new stake in shares of PriceSmart during the 4th quarter worth $32,000. Osaic Holdings Inc. boosted its stake in PriceSmart by 57.2% in the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after buying an additional 179 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in PriceSmart by 45,600.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock valued at $56,000 after buying an additional 456 shares in the last quarter. Institutional investors and hedge funds 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.