Gordon Hanson Sells 635 Shares of PriceSmart (NASDAQ:PSMT) Stock

Key Points

• Gordon Hanson sold 635 shares on April 30 at an average price of $157.60 for about $100,076, reducing his ownership by 7.23% to 8,149 shares valued at roughly $1.284M.
• PriceSmart beat Q1 estimates with EPS of $1.62 versus $1.57 expected and revenue of $1.50B versus $1.48B, and the company announced a $0.70 per-share dividend payable Aug. 31 (record/ex-div date Aug. 17).
• Shares traded down about 2.3% to $154.59 on the day with 120,691 shares changing hands; the stock has a 12‑month range of $99.14–$165.46, a market cap of $4.78B and a P/E of 30.49.

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) Director Gordon Hanson sold 635 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $157.60, for a total value of $100,076.00. Following the sale, the director directly owned 8,149 shares of the company's stock, valued at $1,284,282.40. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

PriceSmart Stock Down 2.3%

Shares of PSMT traded down $3.63 during midday trading on Monday, reaching $154.59. 120,691 shares of the stock were exchanged, compared to its average volume of 231,142. PriceSmart, Inc. has a 12-month low of $99.14 and a 12-month high of $165.46. The firm has a 50 day simple moving average of $152.49 and a 200-day simple moving average of $138.16. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 30.49 and a beta of 0.77.

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 analysts' consensus estimates of $1.57 by $0.05. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS.

PriceSmart Announces Dividend

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

Analysts Set New Price Targets

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

Institutional Trading of PriceSmart

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in PriceSmart by 37.0% in the 3rd quarter. Victory Capital Management Inc. now owns 651,499 shares of the company's stock valued at $78,955,000 after buying an additional 175,806 shares during the last quarter. Vest Financial LLC grew its holdings in PriceSmart by 17.8% in the 3rd quarter. Vest Financial LLC now owns 53,647 shares of the company's stock valued at $6,501,000 after buying an additional 8,095 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in PriceSmart by 24.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 489,201 shares of the company's stock valued at $59,286,000 after buying an additional 97,598 shares during the last quarter. Oak Ridge Investments LLC acquired a new stake in PriceSmart in the 3rd quarter valued at approximately $2,931,000. Finally, Comerica Bank grew its holdings in PriceSmart by 77.2% in the 4th quarter. Comerica Bank now owns 33,224 shares of the company's stock valued at $4,076,000 after buying an additional 14,475 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.

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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