PriceSmart, Inc. (PSMT) Position Cut by Harding Loevner LP
Harding Loevner LP lowered its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 18.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,152 shares of the company’s stock after selling 13,296 shares during the quarter. Harding Loevner LP owned 0.19% of PriceSmart worth $5,279,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in PriceSmart by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,026,266 shares of the company’s stock valued at $177,501,000 after acquiring an additional 10,009 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of PriceSmart by 9.6% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,511,335 shares of the company’s stock worth $134,887,000 after buying an additional 132,555 shares during the period. BlackRock Inc. lifted its holdings in shares of PriceSmart by 2.5% in the 2nd quarter. BlackRock Inc. now owns 1,319,667 shares of the company’s stock worth $115,604,000 after buying an additional 32,748 shares during the period. FMR LLC lifted its holdings in shares of PriceSmart by 1.0% in the 2nd quarter. FMR LLC now owns 1,124,293 shares of the company’s stock worth $98,488,000 after buying an additional 10,907 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of PriceSmart by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 642,019 shares of the company’s stock worth $56,240,000 after buying an additional 9,629 shares during the period. Institutional investors own 73.19% of the company’s stock.
Several brokerages have weighed in on PSMT. Roth Capital reiterated a “buy” rating and issued a $100.00 target price on shares of PriceSmart in a report on Monday, October 2nd. TheStreet upgraded PriceSmart from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Zacks Investment Research cut PriceSmart from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Ifs Securities began coverage on PriceSmart in a report on Monday, September 25th. They issued a “market perform” rating and a $85.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $92.50.
PriceSmart (NASDAQ:PSMT) last issued its earnings results on Thursday, October 26th. The company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.09). PriceSmart had a return on equity of 13.32% and a net margin of 3.03%. The firm had revenue of $733.50 million during the quarter, compared to analysts’ expectations of $733.64 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. PriceSmart’s quarterly revenue was up 3.2% compared to the same quarter last year. analysts forecast that PriceSmart, Inc. will post 3.2 EPS for the current fiscal year.
In other news, CFO John Heffner sold 3,125 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $80.00, for a total value of $250,000.00. Following the completion of the transaction, the chief financial officer now directly owns 27,121 shares of the company’s stock, valued at approximately $2,169,680. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John D. Hildebrandt sold 1,614 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $83.47, for a total value of $134,720.58. Following the completion of the transaction, the executive vice president now directly owns 17,237 shares of the company’s stock, valued at $1,438,772.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,997 shares of company stock valued at $3,683,782. Corporate insiders own 28.00% of the company’s stock.
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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