PriceSmart, Inc. $PSMT Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in PriceSmart, Inc. (NASDAQ:PSMT) by 37.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 651,499 shares of the company’s stock after buying an additional 175,806 shares during the quarter. Victory Capital Management Inc.’s holdings in PriceSmart were worth $78,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after buying an additional 252 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of PriceSmart in the second quarter worth $28,000. First Horizon Corp purchased a new stake in shares of PriceSmart during the third quarter worth $30,000. Steward Partners Investment Advisory LLC increased its position in shares of PriceSmart by 52.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of PriceSmart in the third quarter valued at $39,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Activity at PriceSmart

In other news, Director Beatriz V. Infante sold 1,995 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $136.87, for a total transaction of $273,055.65. Following the completion of the sale, the director owned 10,879 shares in the company, valued at approximately $1,489,008.73. The trade was a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John D. Hildebrandt sold 7,421 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 108,194 shares in the company, valued at $14,809,594.72. This trade represents a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,671 shares of company stock worth $2,283,051 in the last ninety days. Company insiders own 17.00% of the company’s stock.

PriceSmart Stock Performance

NASDAQ:PSMT opened at $146.64 on Friday. PriceSmart, Inc. has a 12 month low of $81.25 and a 12 month high of $158.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.33 and a quick ratio of 0.55. The firm has a market capitalization of $4.52 billion, a PE ratio of 29.93 and a beta of 0.73. The business’s fifty day moving average price is $143.59 and its 200 day moving average price is $127.49.

PriceSmart (NASDAQ:PSMT) last announced 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. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the business earned $1.21 EPS. PriceSmart’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued 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 presently 28.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings downgraded PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

PriceSmart 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.