PriceSmart, Inc. (NASDAQ:PSMT) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 1,617,278 shares, a drop of 25.6% from the February 15th total of 2,172,912 shares. Based on an average trading volume of 154,778 shares, the short-interest ratio is currently 10.4 days. Currently, 8.2% of the shares of the stock are short sold.
A number of large investors have recently modified their holdings of PSMT. Genesis Asset Managers LLP lifted its stake in PriceSmart by 25.2% in the 4th quarter. Genesis Asset Managers LLP now owns 1,135,665 shares of the company’s stock valued at $97,781,000 after purchasing an additional 228,715 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in PriceSmart by 9.6% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,511,335 shares of the company’s stock valued at $134,887,000 after purchasing an additional 132,555 shares during the last quarter. Brown Advisory Inc. lifted its stake in PriceSmart by 48.8% in the 3rd quarter. Brown Advisory Inc. now owns 302,536 shares of the company’s stock valued at $27,001,000 after purchasing an additional 99,167 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in PriceSmart by 105.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 79,557 shares of the company’s stock valued at $7,100,000 after purchasing an additional 40,877 shares during the last quarter. Finally, Lombard Odier Asset Management Switzerland SA lifted its stake in PriceSmart by 14.1% in the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 278,200 shares of the company’s stock valued at $23,953,000 after purchasing an additional 34,400 shares during the last quarter. 77.30% of the stock is owned by institutional investors and hedge funds.
PriceSmart (NASDAQ:PSMT) opened at $83.05 on Friday. The company has a market cap of $2,490.05, a P/E ratio of 28.24 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.39 and a quick ratio of 0.44. PriceSmart has a 52 week low of $77.50 and a 52 week high of $94.00.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Thursday, January 4th. The company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.08). The company had revenue of $767.10 million during the quarter, compared to the consensus estimate of $764.67 million. PriceSmart had a net margin of 2.92% and a return on equity of 12.61%. PriceSmart’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 EPS. equities analysts expect that PriceSmart will post 3.2 earnings per share for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, August 31st. Investors of record on Wednesday, August 15th will be paid a $0.35 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 14th. PriceSmart’s payout ratio is 24.14%.
Several research firms recently issued reports on PSMT. Scotiabank set a $90.00 price target on shares of PriceSmart and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. BidaskClub lowered shares of PriceSmart from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Zacks Investment Research upgraded shares of PriceSmart from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Saturday, January 13th. Ifs Securities upgraded shares of PriceSmart from a “market perform” rating to an “outperform” rating in a research report on Friday, December 29th. Finally, Scotia Howard Weill reiterated a “sector perform” rating on shares of PriceSmart in a research report on Friday, January 5th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $92.50.
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PriceSmart Company Profile
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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