PriceSmart (NASDAQ:PSMT) Share Price Passes Above 200-Day Moving Average – Should You Sell?
by Michael Walen · The Markets DailyShares of PriceSmart, Inc. (NASDAQ:PSMT – Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $131.40 and traded as high as $147.81. PriceSmart shares last traded at $146.43, with a volume of 194,552 shares changing hands.
Analysts Set New Price Targets
PSMT has been the subject of a number of research analyst reports. Weiss Ratings raised PriceSmart from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, March 10th. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.
Read Our Latest Analysis on PriceSmart
PriceSmart Price Performance
The firm has a market cap of $4.55 billion, a PE ratio of 30.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.33 and a quick ratio of 0.55. The business’s fifty day moving average is $148.76 and its 200-day moving average is $131.65.
PriceSmart (NASDAQ:PSMT – Get Free Report) last released its earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. PriceSmart had a net margin of 2.79% and a return on equity of 12.20%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. On average, research analysts predict that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.
PriceSmart Dividend Announcement
The company also recently announced a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.70 dividend. This represents a yield of 89.0%. The ex-dividend date of this dividend is Monday, August 17th. PriceSmart’s dividend payout ratio (DPR) is currently 28.57%.
Insider Transactions at PriceSmart
In other news, Director Leon C. Janks sold 3,000 shares of the company’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $137.29, for a total transaction of $411,870.00. Following the transaction, the director owned 30,734 shares of the company’s stock, valued at $4,219,470.86. This represents a 8.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Beatriz V. Infante sold 1,995 shares of PriceSmart stock in a transaction dated Monday, January 12th. The stock was 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 of the company’s stock, valued at approximately $1,489,008.73. This trade represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 16,671 shares of company stock valued at $2,283,051. Corporate insiders own 17.00% of the company’s stock.
Hedge Funds Weigh In On PriceSmart
Large investors have recently modified their holdings of the business. Pertento Partners LLP bought a new position in PriceSmart in the 2nd quarter worth approximately $42,224,000. Progeny 3 Inc. bought a new stake in PriceSmart during the 3rd quarter valued at $27,825,000. Invesco Ltd. lifted its position in shares of PriceSmart by 54.7% during the second quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after acquiring an additional 194,980 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of PriceSmart by 821.3% during the fourth quarter. Fisher Asset Management LLC now owns 217,000 shares of the company’s stock worth $26,619,000 after acquiring an additional 193,446 shares in the last quarter. Finally, Boston Trust Walden Corp bought a new position in shares of PriceSmart in the third quarter worth $21,915,000. Hedge funds and other institutional investors 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.