Hennessy Advisors Inc. Decreases Stock Position in PriceSmart, Inc. $PSMT

Hennessy Advisors Inc. lowered its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,500 shares of the company’s stock after selling 5,600 shares during the quarter. Hennessy Advisors Inc.’s holdings in PriceSmart were worth $10,488,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares in the last quarter. First Horizon Corp purchased a new stake in PriceSmart in the 3rd quarter worth $30,000. Mather Group LLC. purchased a new stake in PriceSmart in the 3rd quarter worth $39,000. AlphaQuest LLC lifted its stake in PriceSmart by 127.5% in the 3rd quarter. AlphaQuest LLC now owns 414 shares of the company’s stock worth $50,000 after purchasing an additional 232 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in PriceSmart by 57.2% in the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after purchasing an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PSMT shares. Wall Street Zen downgraded shares of PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Weiss Ratings downgraded shares of PriceSmart from a “buy (a-)” rating to a “buy (b)” rating in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, PriceSmart presently has an average rating of “Buy”.

PriceSmart Price Performance

Shares of PSMT stock opened at $161.78 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. The company has a market capitalization of $5.00 billion, a P/E ratio of 31.91 and a beta of 0.74. The company’s 50-day simple moving average is $151.82 and its two-hundred day simple moving average is $135.85. PriceSmart, Inc. has a one year low of $92.55 and a one year high of $165.46.

PriceSmart (NASDAQ:PSMT) last issued its earnings results on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.05. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 EPS. As a group, equities analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current year.

PriceSmart Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a $0.70 dividend. This represents a yield of 89.0%. The ex-dividend date is Monday, August 17th. PriceSmart’s dividend payout ratio is currently 27.61%.

PriceSmart 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.