PriceSmart, Inc. (NASDAQ:PSMT – Get Free Report) declared a Semi-Annual dividend on Thursday, February 1st, Zacks reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.58 per share on Thursday, February 29th. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from PriceSmart’s previous Semi-Annual dividend of $0.46.
PriceSmart has increased its dividend payment by an average of 9.5% annually over the last three years and has increased its dividend every year for the last 3 years. PriceSmart has a dividend payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PriceSmart to earn $5.21 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 22.3%.
PriceSmart Stock Performance
PriceSmart stock opened at $78.86 on Monday. The company has a 50 day moving average price of $75.00 and a 200-day moving average price of $74.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 1.25. PriceSmart has a fifty-two week low of $61.82 and a fifty-two week high of $83.71. The company has a market capitalization of $2.41 billion, a PE ratio of 21.37 and a beta of 0.90.
Hedge Funds Weigh In On PriceSmart
Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in shares of PriceSmart by 175.0% during the first quarter. JPMorgan Chase & Co. now owns 103,697 shares of the company’s stock valued at $8,178,000 after buying an additional 65,984 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of PriceSmart by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 301,840 shares of the company’s stock valued at $23,806,000 after buying an additional 4,066 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of PriceSmart by 43.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the company’s stock valued at $137,000 after buying an additional 523 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of PriceSmart by 2.1% during the first quarter. Bank of Montreal Can now owns 22,060 shares of the company’s stock valued at $1,766,000 after buying an additional 446 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of PriceSmart by 61.0% during the first quarter. MetLife Investment Management LLC now owns 12,883 shares of the company’s stock valued at $1,016,000 after buying an additional 4,881 shares during the last quarter. 81.19% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
PSMT has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of PriceSmart in a research note on Friday, December 1st. They issued a “buy” rating and a $82.00 price objective for the company. TheStreet raised PriceSmart from a “c+” rating to a “b-” rating in a research report on Tuesday, January 30th.
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.
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