35,456 Shares in PriceSmart, Inc. $PSMT Bought by Empowered Funds LLC

Empowered Funds LLC purchased a new position in PriceSmart, Inc. (NASDAQ:PSMT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,456 shares of the company’s stock, valued at approximately $6,926,000.

Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its holdings in shares of PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 252 shares in the last quarter. UMB Bank n.a. increased its stake in shares of PriceSmart by 76.0% in the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. CENTRAL TRUST Co bought a new position in shares of PriceSmart in the 4th quarter worth about $32,000. Bell Investment Advisors Inc purchased a new position in PriceSmart during the 2nd quarter valued at about $40,000. Finally, Osaic Holdings Inc. lifted its position in PriceSmart by 57.2% during the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after acquiring an additional 179 shares during the period. Institutional investors own 80.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSMT. Weiss Ratings restated a “buy (b)” rating on shares of PriceSmart in a report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and set a $198.00 target price on shares of PriceSmart in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, PriceSmart currently has an average rating of “Buy” and a consensus price target of $198.00.

PriceSmart Stock Performance

PriceSmart stock opened at $169.34 on Monday. PriceSmart, Inc. has a 12 month low of $106.87 and a 12 month high of $199.84. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 32.50 and a beta of 0.76. The business’s fifty day simple moving average is $185.62 and its two-hundred day simple moving average is $168.14. The company has a current ratio of 1.28, a quick ratio of 0.53 and a debt-to-equity ratio of 0.08.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.04). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. PriceSmart’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share.

Insider Buying and Selling

In other PriceSmart news, Director Sherry S. Bahrambeygui sold 3,499 shares of PriceSmart stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $197.38, for a total value of $690,632.62. Following the completion of the transaction, the director directly owned 32,150 shares of the company’s stock, valued at approximately $6,345,767. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $177.87, for a total transaction of $60,120.06. Following the completion of the transaction, the executive vice president directly owned 75,321 shares of the company’s stock, valued at $13,397,346.27. This trade represents a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,737 shares of company stock worth $1,506,176 in the last quarter. Corporate insiders own 17.00% of the company’s stock.

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.