PriceSmart (NASDAQ:PSMT) Price Target Raised to $90.00 at Jefferies Financial Group

PriceSmart (NASDAQ:PSMT) had its price objective boosted by Jefferies Financial Group from $82.00 to $90.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on PSMT. StockNews.com cut PriceSmart from a strong-buy rating to a buy rating in a report on Saturday, April 13th. TheStreet raised shares of PriceSmart from a c+ rating to a b- rating in a research note on Tuesday, January 30th.

PriceSmart Stock Performance

NASDAQ:PSMT opened at $79.39 on Wednesday. PriceSmart has a twelve month low of $61.82 and a twelve month high of $86.90. The company has a quick ratio of 0.49, a current ratio of 1.20 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.42 billion, a P/E ratio of 19.95 and a beta of 0.92. The business’s 50-day moving average price is $81.75 and its two-hundred day moving average price is $75.73.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Wednesday, April 10th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company posted $1.25 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities analysts predict that PriceSmart will post 4.38 EPS for the current fiscal year.

PriceSmart Announces Dividend

The firm also recently announced a None dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be paid a $1.00 dividend. The ex-dividend date is Thursday, April 18th. PriceSmart’s payout ratio is presently 29.15%.

Insiders Place Their Bets

In other news, Director Edgar Zurcher sold 1,075 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $79.08, for a total transaction of $85,011.00. Following the transaction, the director now directly owns 8,822 shares of the company’s stock, valued at $697,643.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other PriceSmart news, Director Gordon H. Hanson sold 937 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edgar Zurcher sold 1,075 shares of PriceSmart 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 sale, the director now owns 8,822 shares in the company, valued at $697,643.76. The disclosure for this sale can be found here. Company insiders own 18.60% of the company’s stock.

Hedge Funds Weigh In On PriceSmart

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in PriceSmart by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 3,319,255 shares of the company’s stock valued at $251,533,000 after acquiring an additional 141,920 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in PriceSmart by 6.1% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,592,064 shares of the company’s stock valued at $185,281,000 after buying an additional 148,758 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PriceSmart by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,261,945 shares of the company’s stock worth $95,631,000 after acquiring an additional 60,673 shares in the last quarter. Finally, State Street Corp grew its stake in shares of PriceSmart by 0.7% in the second quarter. State Street Corp now owns 998,361 shares of the company’s stock worth $73,939,000 after acquiring an additional 6,772 shares during the last quarter. Hedge funds and other 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.