PriceSmart (NASDAQ:PSMT) Director Edgar Zurcher Sells 2,259 Shares

PriceSmart, Inc. (NASDAQ:PSMT) Director Edgar Zurcher sold 2,259 shares of PriceSmart stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $155.17, for a total value of $350,529.03. Following the completion of the transaction, the director owned 8,151 shares in the company, valued at approximately $1,264,790.67. This represents a 21.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

PriceSmart Trading Up 2.3%

Shares of PSMT stock opened at $156.56 on Wednesday. The stock has a market capitalization of $4.84 billion, a PE ratio of 30.88 and a beta of 0.77. PriceSmart, Inc. has a 1-year low of $99.14 and a 1-year high of $165.46. The business has a 50-day moving average of $152.54 and a 200 day moving average of $138.39. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52.

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

PriceSmart Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.70 dividend. This represents a dividend yield of 89.0%. The ex-dividend date of this dividend is Monday, August 17th. PriceSmart’s payout ratio is presently 27.61%.

Hedge Funds Weigh In On PriceSmart

Several hedge funds have recently made changes to their positions in PSMT. Geneos Wealth Management Inc. lifted its stake in PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after acquiring an additional 252 shares during the period. UMB Bank n.a. increased its position in PriceSmart by 76.0% during the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after purchasing an additional 98 shares during the period. First Horizon Corp bought a new position in PriceSmart in the 3rd quarter worth $30,000. CENTRAL TRUST Co bought a new position in PriceSmart in the 4th quarter worth $32,000. Finally, Mather Group LLC. purchased a new position in shares of PriceSmart during the third quarter valued at about $39,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSMT has been the subject of several analyst reports. Weiss Ratings cut shares of PriceSmart from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, April 14th. Wall Street Zen cut shares of PriceSmart from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

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.