PriceSmart (NASDAQ:PSMT) Trading Up 3.1%

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $80.72 and last traded at $80.61. Approximately 34,409 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 153,364 shares. The stock had previously closed at $78.20.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com lowered PriceSmart from a "strong-buy" rating to a "buy" rating in a research report on Saturday. TheStreet upgraded PriceSmart from a "c+" rating to a "b-" rating in a research report on Tuesday, January 30th.

PriceSmart Stock Performance

The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 19.95 and a beta of 0.92. The company's 50 day simple moving average is $81.75 and its 200 day simple moving average is $75.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.49 and a current ratio of 1.20.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 10th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. PriceSmart had a net margin of 2.62% and a return on equity of 11.85%. The business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the firm posted $1.25 earnings per share. The business's revenue was up 13.1% on a year-over-year basis. On average, equities research analysts anticipate that PriceSmart, Inc. will post 4.38 earnings per share for the current year.

PriceSmart Dividend Announcement

The company also recently disclosed a None dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, April 18th. PriceSmart's dividend payout ratio is presently 29.15%.

Insider Buying and Selling

In related news, Director Gordon H. Hanson sold 937 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $79.86, for a total transaction of $74,828.82. Following the completion of the sale, the director now directly owns 7,969 shares of the company's stock, valued at $636,404.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PriceSmart news, Director Edgar Zurcher sold 1,075 shares of PriceSmart stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $79.08, for a total transaction of $85,011.00. Following the transaction, the director now directly owns 8,822 shares in the company, valued at approximately $697,643.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gordon H. Hanson sold 937 shares of the firm's stock in a transaction on Monday, April 15th. The stock was sold at an average price of $79.86, for a total value of $74,828.82. Following the completion of the sale, the director now directly owns 7,969 shares of the company's stock, valued at approximately $636,404.34. The disclosure for this sale can be found here. 18.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PriceSmart

Several hedge funds have recently bought and sold shares of PSMT. JPMorgan Chase & Co. lifted its position in shares of PriceSmart by 175.0% in the first quarter. JPMorgan Chase & Co. now owns 103,697 shares of the company's stock worth $8,178,000 after purchasing an additional 65,984 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of PriceSmart by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 301,840 shares of the company's stock valued at $23,806,000 after buying an additional 4,066 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of PriceSmart by 43.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the company's stock valued at $137,000 after buying an additional 523 shares during the period. Bank of Montreal Can grew its holdings in shares of PriceSmart by 2.1% during the 1st quarter. Bank of Montreal Can now owns 22,060 shares of the company's stock valued at $1,766,000 after acquiring an additional 446 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of PriceSmart by 61.0% in the first quarter. MetLife Investment Management LLC now owns 12,883 shares of the company's stock worth $1,016,000 after acquiring an additional 4,881 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

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.