PriceSmart (NASDAQ:PSMT) Sets New 12-Month High - Here's What Happened

Shares of PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $109.19 and last traded at $107.40, with a volume of 278602 shares. The stock had previously closed at $107.98.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of PriceSmart from a "hold" rating to a "buy" rating in a research note on Saturday.

PriceSmart Stock Performance

The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 23.38 and a beta of 0.75. The company has a 50-day moving average price of $97.88 and a 200-day moving average price of $92.90. The company has a quick ratio of 0.43, a current ratio of 1.26 and a debt-to-equity ratio of 0.08.

PriceSmart (NASDAQ:PSMT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.51 by ($0.06). PriceSmart had a return on equity of 12.29% and a net margin of 2.76%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $1.31 EPS. The company's revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

Insider Activity at PriceSmart

In related news, Director Jeffrey Fisher sold 3,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $102.21, for a total value of $306,630.00. Following the completion of the transaction, the director now owns 13,011 shares in the company, valued at $1,329,854.31. This represents a 18.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Edgar Zurcher sold 390 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $102.78, for a total transaction of $40,084.20. Following the completion of the transaction, the director now owns 9,279 shares of the company's stock, valued at $953,695.62. This represents a 4.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,836 shares of company stock worth $1,005,273 over the last ninety days. 17.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PriceSmart

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen LLC bought a new position in shares of PriceSmart during the 1st quarter valued at about $36,685,000. Boston Partners boosted its position in shares of PriceSmart by 4,690.8% during the 4th quarter. Boston Partners now owns 297,655 shares of the company's stock valued at $27,344,000 after purchasing an additional 291,442 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of PriceSmart by 70,410.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 282,040 shares of the company's stock valued at $25,996,000 after purchasing an additional 281,640 shares in the last quarter. River Road Asset Management LLC bought a new position in shares of PriceSmart during the 4th quarter valued at about $19,078,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of PriceSmart by 670.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 231,949 shares of the company's stock valued at $21,380,000 after purchasing an additional 201,841 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

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.