StockNews.com initiated coverage on shares of PriceSmart (NASDAQ:PSMT – Get Rating) in a research report released on Thursday. The firm issued a buy rating on the stock.
A number of other brokerages also recently weighed in on PSMT. TheStreet raised shares of PriceSmart from a c+ rating to a b- rating in a research note on Wednesday, January 25th. Scotiabank cut shares of PriceSmart from a sector outperform rating to a sector perform rating and lowered their price objective for the company from $96.00 to $77.00 in a research report on Tuesday, November 29th.
PriceSmart Stock Performance
NASDAQ PSMT opened at $68.45 on Thursday. The company’s 50 day simple moving average is $70.91 and its two-hundred day simple moving average is $66.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.40 and a quick ratio of 0.56. PriceSmart has a 1 year low of $56.29 and a 1 year high of $88.30. The stock has a market capitalization of $2.13 billion, a PE ratio of 19.84 and a beta of 0.86.
PriceSmart Announces Dividend
The company also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a dividend yield of 1.2%. PriceSmart’s dividend payout ratio is 26.67%.
Insider Buying and Selling
In other PriceSmart news, Director Sherry S. Bahrambeygui sold 10,000 shares of the stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $72.28, for a total transaction of $722,800.00. Following the transaction, the director now directly owns 113,645 shares in the company, valued at $8,214,260.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Chong Jesus Von sold 1,000 shares of the stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00. Following the completion of the sale, the executive vice president now directly owns 25,134 shares in the company, valued at approximately $1,769,684.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sherry S. Bahrambeygui sold 10,000 shares of PriceSmart stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $72.28, for a total value of $722,800.00. Following the completion of the transaction, the director now directly owns 113,645 shares in the company, valued at $8,214,260.60. The disclosure for this sale can be found here. Insiders sold 51,703 shares of company stock worth $3,656,453 in the last quarter. 17.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in PriceSmart during the 1st quarter valued at $37,000. Quadrant Capital Group LLC raised its stake in shares of PriceSmart by 251.7% during the third quarter. Quadrant Capital Group LLC now owns 911 shares of the company’s stock valued at $52,000 after acquiring an additional 652 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of PriceSmart during the fourth quarter worth about $73,000. Steward Partners Investment Advisory LLC grew its stake in shares of PriceSmart by 148.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,649 shares of the company’s stock worth $100,000 after purchasing an additional 984 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of PriceSmart by 43.1% in the first quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the company’s stock worth $137,000 after purchasing an additional 523 shares during the last quarter. Institutional investors own 80.61% of the company’s stock.
PriceSmart Company Profile
PriceSmart, Inc engages in the business of managing membership shopping warehouse club concepts to emerging and developing countries. It operates through the following geographical segments: United States Operations, Central American Operations, Caribbean Operations, and Colombia Operations. The Central America Operations segment includes Panama, Guatemala, Costa Rica, El Salvador, Honduras, and Nicaragua.
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