PriceSmart (NASDAQ:PSMT) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of PriceSmart (NASDAQ:PSMT) from a hold rating to a buy rating in a report published on Monday morning.

PriceSmart Price Performance

PriceSmart stock opened at $87.87 on Monday. The stock’s 50 day moving average is $90.54 and its 200 day moving average is $90.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 0.43. The firm has a market cap of $2.69 billion, a P/E ratio of 19.35 and a beta of 0.84. PriceSmart has a one year low of $77.51 and a one year high of $99.23.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, January 8th. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.22). The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. PriceSmart had a net margin of 2.76% and a return on equity of 12.29%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 EPS. As a group, research analysts expect that PriceSmart will post 5.28 EPS for the current year.

PriceSmart Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.63 dividend. The ex-dividend date was Tuesday, February 18th. PriceSmart’s dividend payout ratio is currently 27.75%.

Insiders Place Their Bets

In related news, EVP Francisco Velasco sold 555 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $90.42, for a total transaction of $50,183.10. Following the sale, the executive vice president now owns 79,008 shares of the company’s stock, valued at approximately $7,143,903.36. This represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Mccleary sold 4,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.67, for a total value of $358,680.00. Following the sale, the chief financial officer now directly owns 58,141 shares in the company, valued at $5,213,503.47. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,162 shares of company stock valued at $1,930,402. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On PriceSmart

Institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its stake in PriceSmart by 536.7% in the 4th quarter. Sterling Capital Management LLC now owns 312 shares of the company’s stock worth $29,000 after acquiring an additional 263 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in PriceSmart during the 4th quarter valued at about $53,000. MassMutual Private Wealth & Trust FSB boosted its holdings in PriceSmart by 3,905.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 681 shares of the company’s stock valued at $63,000 after acquiring an additional 664 shares during the period. Smartleaf Asset Management LLC boosted its holdings in PriceSmart by 393.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock valued at $65,000 after acquiring an additional 570 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in PriceSmart by 17,300.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 870 shares of the company’s stock worth $80,000 after buying an additional 865 shares during the period. 80.46% of the stock is currently owned by institutional investors.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.