Comerica Bank Buys 14,475 Shares of PriceSmart, Inc. $PSMT

Key Points

• Comerica Bank boosted its stake in PriceSmart by 77.2%, buying 14,475 shares to hold 33,224 shares (about 0.11% of the company) valued at roughly $4.08 million per its latest 13F filing.
• PriceSmart beat expectations for the quarter with EPS of $1.62 vs. $1.57 expected and revenue of $1.50 billion (vs. $1.48 billion), driving 9.7% year‑over‑year revenue growth.
• The company declared a $0.70 dividend payable on August 31 to shareholders of record on August 17 (ex‑dividend date August 17), a payout the article highlights as an unusually high yield.

Comerica Bank increased its stake in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 77.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,224 shares of the company's stock after purchasing an additional 14,475 shares during the period. Comerica Bank owned approximately 0.11% of PriceSmart worth $4,076,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSMT. Dimensional Fund Advisors LP boosted its stake in shares of PriceSmart by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,258,234 shares of the company's stock valued at $152,489,000 after purchasing an additional 10,537 shares in the last quarter. State Street Corp increased its position in PriceSmart by 2.4% during the 2nd quarter. State Street Corp now owns 1,045,998 shares of the company's stock worth $109,872,000 after purchasing an additional 24,512 shares in the last quarter. Victory Capital Management Inc. increased its position in PriceSmart by 37.0% during the 3rd quarter. Victory Capital Management Inc. now owns 651,499 shares of the company's stock worth $78,955,000 after purchasing an additional 175,806 shares in the last quarter. Invesco Ltd. increased its position in PriceSmart by 13.3% during the 3rd quarter. Invesco Ltd. now owns 624,985 shares of the company's stock worth $75,742,000 after purchasing an additional 73,419 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its position in PriceSmart by 24.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 489,201 shares of the company's stock worth $59,286,000 after purchasing an additional 97,598 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

PriceSmart Price Performance

PriceSmart stock opened at $158.21 on Friday. The stock's 50 day moving average is $152.49 and its 200 day moving average is $138.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. The firm has a market cap of $4.89 billion, a P/E ratio of 31.21 and a beta of 0.77. PriceSmart, Inc. has a one year low of $99.14 and a one year high of $165.46.

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

PriceSmart Dividend Announcement

The business also recently disclosed 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 currently 27.61%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. 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 analyst has rated the stock with a Buy rating, According to MarketBeat.com, PriceSmart has a consensus 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.

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