PriceSmart (NASDAQ:PSMT) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of PriceSmart (NASDAQ:PSMT) from a buy rating to a hold rating in a research note issued to investors on Monday.

PriceSmart Stock Down 1.4 %

Shares of NASDAQ:PSMT opened at $93.55 on Monday. The stock has a fifty day simple moving average of $92.15 and a two-hundred day simple moving average of $89.95. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 20.61 and a beta of 0.85. PriceSmart has a 12-month low of $77.51 and a 12-month high of $99.23. The company has a current ratio of 1.26, a quick ratio of 0.43 and a debt-to-equity ratio of 0.08.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, January 8th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.22). The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. PriceSmart had a net margin of 2.76% and a return on equity of 12.29%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 EPS. On average, research analysts anticipate that PriceSmart will post 5.28 earnings per share for the current fiscal year.

PriceSmart Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, February 18th. PriceSmart’s payout ratio is 25.55%.

Insider Buying and Selling at PriceSmart

In other PriceSmart news, CFO Michael Mccleary sold 4,000 shares of PriceSmart stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.67, for a total value of $358,680.00. Following the completion of the sale, the chief financial officer now owns 58,141 shares of the company’s stock, valued at approximately $5,213,503.47. This trade represents a 6.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Fisher sold 1,700 shares of PriceSmart stock in a transaction on Monday, February 10th. The stock was sold at an average price of $95.00, for a total value of $161,500.00. Following the completion of the sale, the director now directly owns 16,911 shares of the company’s stock, valued at approximately $1,606,545. The trade was a 9.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,962 shares of company stock worth $1,911,398. 17.10% of the stock is owned by insiders.

Institutional Trading of PriceSmart

Institutional investors and hedge funds have recently modified their holdings of the business. Heck Capital Advisors LLC bought a new stake in shares of PriceSmart in the 4th quarter worth $53,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of PriceSmart by 3,905.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 681 shares of the company’s stock worth $63,000 after purchasing an additional 664 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of PriceSmart by 393.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock worth $65,000 after purchasing an additional 570 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of PriceSmart by 96.9% in the 3rd quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock worth $76,000 after purchasing an additional 405 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of PriceSmart by 17,300.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 870 shares of the company’s stock worth $80,000 after acquiring an additional 865 shares during the period. Institutional investors own 80.46% of the company’s stock.

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.