Vanguard Group Inc. Sells 83,294 Shares of PriceSmart, Inc. $PSMT

Vanguard Group Inc. cut its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,329,613 shares of the company’s stock after selling 83,294 shares during the period. Vanguard Group Inc. owned approximately 0.11% of PriceSmart worth $403,516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in shares of PriceSmart by 7.7% during the second quarter. American Century Companies Inc. now owns 1,401,706 shares of the company’s stock valued at $147,236,000 after buying an additional 100,785 shares during the period. State Street Corp raised its holdings in shares of PriceSmart by 2.4% in the second quarter. State Street Corp now owns 1,045,998 shares of the company’s stock worth $109,872,000 after buying an additional 24,512 shares during the period. Geode Capital Management LLC lifted its stake in shares of PriceSmart by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 740,720 shares of the company’s stock worth $77,812,000 after acquiring an additional 13,119 shares during the last quarter. Invesco Ltd. lifted its stake in shares of PriceSmart by 54.7% during the 2nd quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after acquiring an additional 194,980 shares during the last quarter. Finally, Pertento Partners LLP purchased a new position in PriceSmart during the 2nd quarter valued at $42,224,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PriceSmart

In other news, EVP Paul Kovaleski sold 4,255 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $136.86, for a total value of $582,339.30. Following the completion of the sale, the executive vice president owned 38,854 shares of the company’s stock, valued at approximately $5,317,558.44. This represents a 9.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John D. Hildebrandt sold 7,421 shares of PriceSmart stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $136.88, for a total transaction of $1,015,786.48. Following the transaction, the chief operating officer directly owned 108,194 shares in the company, valued at approximately $14,809,594.72. The trade was a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,671 shares of company stock worth $2,283,051. 17.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings lowered PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, January 12th. Wall Street Zen lowered shares of PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, PriceSmart currently has an average rating of “Buy”.

PriceSmart Trading Down 1.0%

PSMT opened at $153.80 on Friday. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $157.87. The company has a market capitalization of $4.74 billion, a P/E ratio of 31.39 and a beta of 0.75. The stock’s fifty day moving average is $140.76 and its two-hundred day moving average is $126.05. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS. Analysts forecast that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

PriceSmart Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a yield of 89.0%. PriceSmart’s dividend payout ratio (DPR) is 28.57%.

PriceSmart Company 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.