PriceSmart, Inc. (PSMT) To Go Ex-Dividend on February 17th

PriceSmart, Inc. (NASDAQ:PSMT) declared a dividend on Thursday, February 5th. Stockholders of record on Tuesday, February 17th will be given a dividend of 0.70 per share on Friday, February 27th. This represents a dividend yield of 89.0%. The ex-dividend date of this dividend is Tuesday, February 17th.

PriceSmart has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. PriceSmart has a dividend payout ratio of 23.5% meaning its dividend is sufficiently covered by earnings.

PriceSmart Trading Up 0.4%

NASDAQ PSMT opened at $155.68 on Friday. The firm has a market capitalization of $4.80 billion, a PE ratio of 31.77 and a beta of 0.75. The stock’s 50 day moving average is $135.99 and its 200 day moving average is $123.40. PriceSmart has a twelve month low of $81.25 and a twelve month high of $157.87. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, January 7th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $1.21 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Research analysts forecast that PriceSmart will post 5.28 earnings per share for the current fiscal year.

Insider Activity

In other news, COO John D. Hildebrandt sold 7,421 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $136.88, for a total value of $1,015,786.48. Following the completion of the transaction, the chief operating officer owned 108,194 shares in the company, valued at $14,809,594.72. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leon C. Janks sold 3,000 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $137.29, for a total value of $411,870.00. Following the transaction, the director directly owned 30,734 shares in the company, valued at approximately $4,219,470.86. The trade was a 8.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 16,671 shares of company stock worth $2,283,051. Corporate insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On PriceSmart

A number of hedge funds have recently bought and sold shares of PSMT. Advisors Asset Management Inc. boosted its holdings in shares of PriceSmart by 124.2% during the 1st quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock valued at $59,000 after acquiring an additional 370 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of PriceSmart by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company’s stock valued at $1,310,000 after purchasing an additional 648 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in PriceSmart by 41.7% during the first quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company’s stock valued at $16,069,000 after purchasing an additional 53,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in PriceSmart by 12.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,642 shares of the company’s stock worth $6,206,000 after purchasing an additional 7,717 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in PriceSmart by 34.7% in the 1st quarter. Intech Investment Management LLC now owns 18,673 shares of the company’s stock worth $1,640,000 after purchasing an additional 4,806 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

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.