PriceSmart (NASDAQ:PSMT) Price Target Raised to $90.00

PriceSmart (NASDAQ:PSMT) had its target price lifted by Jefferies Financial Group from $82.00 to $90.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

PSMT has been the topic of a number of other reports. TheStreet raised PriceSmart from a c+ rating to a b- rating in a research note on Tuesday, January 30th. StockNews.com lowered PriceSmart from a strong-buy rating to a buy rating in a research report on Saturday, April 13th.

PriceSmart Stock Performance

NASDAQ:PSMT opened at $82.85 on Wednesday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 20.82 and a beta of 0.92. The business has a 50 day moving average of $81.87 and a 200 day moving average of $75.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.20 and a quick ratio of 0.49. PriceSmart has a 1-year low of $61.82 and a 1-year high of $86.90.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, April 10th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. PriceSmart had a net margin of 2.62% and a return on equity of 11.85%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts predict that PriceSmart will post 4.64 earnings per share for the current fiscal year.

PriceSmart Announces Dividend

The company also recently declared a None dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 19th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, April 18th. PriceSmart’s payout ratio is currently 29.15%.

Insider Buying and Selling at PriceSmart

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

Institutional Trading of PriceSmart

Several large investors have recently added to or reduced their stakes in PSMT. Point72 Hong Kong Ltd purchased a new stake in shares of PriceSmart in the 1st quarter worth about $37,000. Headlands Technologies LLC purchased a new stake in PriceSmart in the third quarter worth about $47,000. Tower Research Capital LLC TRC boosted its position in PriceSmart by 80.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 759 shares of the company’s stock valued at $54,000 after acquiring an additional 338 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in shares of PriceSmart by 30,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 912 shares of the company’s stock worth $69,000 after acquiring an additional 909 shares during the period. Finally, CWM LLC raised its position in shares of PriceSmart by 331.4% in the 4th quarter. CWM LLC now owns 1,044 shares of the company’s stock worth $79,000 after acquiring an additional 802 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

PriceSmart Company Profile

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.