PriceSmart (NASDAQ:PSMT) Sets New 12-Month High – Still a Buy?

Shares of PriceSmart, Inc. (NASDAQ:PSMT) hit a new 52-week high on Wednesday . The stock traded as high as $158.88 and last traded at $157.1040, with a volume of 37612 shares trading hands. The stock had previously closed at $150.76.

Analyst Upgrades and Downgrades

PSMT has been the subject of several analyst reports. Weiss Ratings raised shares of PriceSmart from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, March 10th. Wall Street Zen downgraded shares of PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Strong Buy”.

PriceSmart Stock Performance

The stock’s 50 day moving average price is $150.08 and its 200 day moving average price is $133.66. The company has a current ratio of 1.33, a quick ratio of 0.55 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 32.31 and a beta of 0.74.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Wednesday, January 7th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. PriceSmart had a net margin of 2.79% and a return on equity of 12.20%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company posted $1.21 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, analysts expect that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

PriceSmart Announces Dividend

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

Insider Activity at PriceSmart

In other news, COO John D. Hildebrandt sold 7,421 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $136.88, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Beatriz V. Infante sold 1,995 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $136.87, for a total transaction of $273,055.65. Following the transaction, the director directly owned 10,879 shares of the company’s stock, 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 quarter, insiders sold 16,671 shares of company stock worth $2,283,051. 17.00% of the stock is owned by insiders.

Institutional Trading of PriceSmart

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Maryland State Retirement & Pension System increased its position in PriceSmart by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 3,699 shares of the company’s stock worth $454,000 after purchasing an additional 73 shares in the last quarter. Parallel Advisors LLC increased its position in PriceSmart by 14.3% during the 4th quarter. Parallel Advisors LLC now owns 590 shares of the company’s stock worth $72,000 after purchasing an additional 74 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in PriceSmart by 1.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,004 shares of the company’s stock worth $607,000 after purchasing an additional 93 shares in the last quarter. Smartleaf Asset Management LLC increased its position in PriceSmart by 10.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock worth $101,000 after purchasing an additional 93 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in PriceSmart by 15.1% during the 4th quarter. Hantz Financial Services Inc. now owns 745 shares of the company’s stock worth $91,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

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.