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

Key Points

• Director Edgar Zurcher sold 2,259 shares of PriceSmart on May 4 at an average price of $155.17 for a total of $350,529, cutting his stake by 21.7% to 8,151 shares.
• PriceSmart beat recent quarterly estimates with EPS of $1.62 versus $1.57 expected and revenue of $1.50 billion, up 9.7% year-over-year.
• The company declared a $0.70 per-share dividend payable August 31, with the company listing August 17 as the record/ex-dividend date and a reported dividend payout ratio of about 27.6%.

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

PriceSmart Price Performance

Shares of NASDAQ:PSMT traded up $1.86 during midday trading on Tuesday, hitting $154.97. The company's stock had a trading volume of 92,866 shares, compared to its average volume of 230,819. The business's 50 day simple moving average is $152.49 and its 200 day simple moving average is $138.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.52 and a current ratio of 1.29. The company has a market cap of $4.79 billion, a P/E ratio of 30.59 and a beta of 0.77. PriceSmart, Inc. has a 12-month low of $99.14 and a 12-month high of $165.46.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.05. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. The company's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $1.45 earnings per share.

PriceSmart Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given a dividend of $0.70 per share. The ex-dividend date is Monday, August 17th. This represents a yield of 89.0%. PriceSmart's dividend payout ratio (DPR) is presently 27.61%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen downgraded PriceSmart from a "buy" rating to a "hold" rating in a research report on Sunday, January 11th. Weiss Ratings downgraded shares of PriceSmart from a "buy (a-)" rating to a "buy (b)" rating in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy".

Hedge Funds Weigh In On PriceSmart

A number of institutional investors have recently bought and sold shares of the company. Aubrey Capital Management Ltd purchased a new position in PriceSmart during the first quarter worth about $2,002,000. Calamos Advisors LLC purchased a new stake in shares of PriceSmart in the 1st quarter valued at approximately $4,165,000. Fifth Third Bancorp raised its stake in shares of PriceSmart by 5,913.3% in the 1st quarter. Fifth Third Bancorp now owns 28,984 shares of the company's stock valued at $4,362,000 after acquiring an additional 28,502 shares during the period. Abel Hall LLC raised its stake in shares of PriceSmart by 40.7% in the 1st quarter. Abel Hall LLC now owns 3,613 shares of the company's stock valued at $544,000 after acquiring an additional 1,046 shares during the period. Finally, Praxis Investment Management Inc. purchased a new stake in shares of PriceSmart in the 1st quarter valued at approximately $233,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

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.

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