TD Asset Management Inc Invests $696,000 in PriceSmart, Inc. $PSMT

TD Asset Management Inc purchased a new stake in PriceSmart, Inc. (NASDAQ:PSMT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,740 shares of the company’s stock, valued at approximately $696,000.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in PriceSmart by 1.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,004 shares of the company’s stock worth $607,000 after acquiring an additional 93 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in PriceSmart by 10.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock worth $101,000 after purchasing an additional 93 shares in the last quarter. Nisa Investment Advisors LLC raised its position in PriceSmart by 20.4% in the third quarter. Nisa Investment Advisors LLC now owns 601 shares of the company’s stock valued at $73,000 after purchasing an additional 102 shares during the last quarter. Arizona State Retirement System raised its position in PriceSmart by 1.5% in the third quarter. Arizona State Retirement System now owns 7,722 shares of the company’s stock valued at $936,000 after purchasing an additional 113 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake 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 valued at $38,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

PriceSmart Trading Down 1.0%

Shares of PSMT stock opened at $145.16 on Friday. PriceSmart, Inc. has a 1-year low of $81.25 and a 1-year high of $158.01. The company has a current ratio of 1.33, a quick ratio of 0.55 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 29.62 and a beta of 0.73. The stock has a 50-day moving average of $144.00 and a 200-day moving average of $127.72.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Wednesday, January 7th. The company reported $1.29 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 for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts forecast that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

PriceSmart Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a $0.70 dividend. The ex-dividend date is Monday, August 17th. This represents a dividend yield of 89.0%. PriceSmart’s payout ratio is 28.57%.

Insider Activity

In other news, 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 sale, the chief operating officer directly owned 108,194 shares in the company, valued at $14,809,594.72. This represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Beatriz V. Infante sold 1,995 shares of PriceSmart stock in a transaction on Monday, January 12th. The stock was sold at an average price of $136.87, for a total transaction of $273,055.65. Following the transaction, the director directly owned 10,879 shares of the company’s stock, valued at $1,489,008.73. This represents a 15.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,671 shares of company stock worth $2,283,051 over the last quarter. Company insiders own 17.00% of the company’s stock.

Wall Street Analyst Weigh In

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

About PriceSmart

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.