PriceSmart, Inc. Same-Store Sales Decrease by 0.9% in May (NASDAQ:PSMT)

PriceSmart’s (NASDAQ:PSMT) same store sales fell 0.9% in the month of May. PriceSmart’s stock climbed by 0.1% in the first day of trading following the report.

Separately, Zacks Investment Research downgraded PriceSmart from a “hold” rating to a “strong sell” rating in a report on Friday, March 29th. Three research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. The stock currently has a consensus rating of “Sell” and an average target price of $77.00.

In other news, major shareholder Robert E. Price sold 10,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $59.35, for a total transaction of $593,500.00. Following the completion of the transaction, the insider now directly owns 80 shares of the company’s stock, valued at approximately $4,748. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gordon H. Hanson sold 3,137 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $60.85, for a total value of $190,886.45. Following the transaction, the director now directly owns 4,504 shares of the company’s stock, valued at $274,068.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,007 shares of company stock valued at $3,163,396. Insiders own 27.10% of the company’s stock.

NASDAQ:PSMT opened at $51.80 on Friday. The stock has a market cap of $1.58 billion, a PE ratio of 21.32 and a beta of 1.01. PriceSmart has a 1 year low of $48.06 and a 1 year high of $94.45. The company has a quick ratio of 0.42, a current ratio of 1.27 and a debt-to-equity ratio of 0.09.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Tuesday, April 9th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.23. The business had revenue of $854.43 million during the quarter, compared to analysts’ expectations of $859.93 million. PriceSmart had a return on equity of 11.51% and a net margin of 2.38%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. As a group, research analysts forecast that PriceSmart will post 2.24 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in shares of PriceSmart by 600.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 700 shares of the company’s stock worth $41,000 after acquiring an additional 600 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in shares of PriceSmart during the 4th quarter worth about $52,000. Quadrant Capital Group LLC acquired a new position in shares of PriceSmart during the 1st quarter worth about $58,000. Rockefeller Capital Management L.P. acquired a new position in shares of PriceSmart during the 1st quarter worth about $75,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of PriceSmart by 67.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,479 shares of the company’s stock worth $88,000 after acquiring an additional 594 shares in the last quarter. 70.80% of the stock is owned by institutional investors and hedge funds.

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PriceSmart Company Profile

PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

Further Reading: Cost of Equity For A Business, Investors

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