SAN DIEGO—David R. Price, the Executive Vice President and Chief Transformational Officer at PriceSmart Inc. (NASDAQ:PSMT), recently sold a portion of his holdings in the company. According to a regulatory filing, Price sold 2,750 shares of PriceSmart common stock on November 6, 2024. The shares were sold at an average price of $92.243, totaling approximately $253,668.
Following this transaction, Price holds 48,844 shares directly. Additionally, he maintains an indirect ownership of 51,305 shares through the David Price Trust. The sale reflects a strategic financial decision by Price, who is both a director and officer at the retail giant.
InvestingPro Insights
PriceSmart Inc. (NASDAQ:PSMT) has been showing strong financial performance, which adds context to David R. Price's recent stock sale. According to InvestingPro data, the company's revenue growth stands at 11.38% for the last twelve months as of Q4 2024, with a notable 9.65% quarterly growth in the same period. This robust growth trajectory suggests that the company is expanding its market presence effectively.
InvestingPro Tips highlight that PriceSmart is trading at a low P/E ratio relative to its near-term earnings growth, with a current P/E ratio of 19.86. This could indicate that the stock is potentially undervalued, considering its growth prospects. Additionally, the company has maintained dividend payments for 18 consecutive years, demonstrating a commitment to shareholder returns. The dividend yield currently stands at 1.26%, with an impressive dividend growth of 26.09% in the last twelve months.
It's worth noting that PriceSmart has seen a significant return over the last week, with a 10.72% price total return. This recent uptick in stock performance might have influenced the timing of Price's stock sale. The company's stock is currently trading at 95.25% of its 52-week high, suggesting strong investor confidence.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 10 more InvestingPro Tips available for PriceSmart, providing a deeper understanding of the company's financial health and market position.
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