Paul Kovaleski, the Executive Vice President and Chief Merchandising Officer at PriceSmart Inc (NASDAQ:PSMT), recently sold 3,235 shares of the company's common stock. The shares were sold at an average price of $89.963 each, totaling approximately $291,030. Following this transaction, Kovaleski retains 44,309 shares of PriceSmart. The transaction was reported in a recent SEC filing dated November 13, 2024.
InvestingPro Insights
PriceSmart Inc (NASDAQ:PSMT) has been demonstrating solid financial performance, which adds context to the recent insider sale by Executive Vice President Paul Kovaleski. According to InvestingPro data, the company's market capitalization stands at $2.62 billion, with a price-to-earnings ratio of 19.3, suggesting a reasonable valuation relative to its earnings.
The company's revenue growth is noteworthy, with an 11.38% increase over the last twelve months, reaching $4.91 billion. This growth trajectory aligns with an InvestingPro Tip indicating that PriceSmart is trading at a low P/E ratio relative to its near-term earnings growth, which could be attractive to value-oriented investors.
Despite the insider sale, PriceSmart's financial health appears robust. An InvestingPro Tip highlights that the company has maintained dividend payments for 18 consecutive years, demonstrating a commitment to shareholder returns. This is further supported by a current dividend yield of 1.3% and an impressive dividend growth rate of 26.09% over the last twelve months.
It's worth noting that PriceSmart operates with a moderate level of debt and its cash flows can sufficiently cover interest payments, as pointed out by another InvestingPro Tip. This financial stability may provide reassurance to investors concerned about the company's long-term prospects.
For readers interested in a more comprehensive analysis, InvestingPro offers additional tips and insights on PriceSmart, with 8 more tips available on the platform.
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