Legal & General Group Plc raised its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 27.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,418 shares of the company’s stock after purchasing an additional 2,051 shares during the quarter. Legal & General Group Plc’s holdings in PriceSmart were worth $839,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its holdings in PriceSmart by 9.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 140,793 shares of the company’s stock worth $12,334,000 after purchasing an additional 11,705 shares during the last quarter. Rhumbline Advisers raised its holdings in PriceSmart by 5.4% during the second quarter. Rhumbline Advisers now owns 26,442 shares of the company’s stock worth $2,316,000 after purchasing an additional 1,348 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in PriceSmart by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 109,050 shares of the company’s stock worth $9,552,000 after purchasing an additional 3,920 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in PriceSmart by 477.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,836 shares of the company’s stock worth $248,000 after buying an additional 2,345 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in PriceSmart by 17.7% during the second quarter. Victory Capital Management Inc. now owns 1,965 shares of the company’s stock worth $172,000 after buying an additional 295 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.
Shares of PriceSmart, Inc. (NASDAQ PSMT) opened at $82.35 on Thursday. PriceSmart, Inc. has a 1 year low of $78.00 and a 1 year high of $94.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.44 and a current ratio of 1.39. The stock has a market capitalization of $2,500.00, a PE ratio of 28.40 and a beta of 1.31.
PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Thursday, January 4th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.08). The firm had revenue of $767.10 million for the quarter, compared to analysts’ expectations of $764.67 million. PriceSmart had a net margin of 2.92% and a return on equity of 12.61%. PriceSmart’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. equities research analysts forecast that PriceSmart, Inc. will post 3.2 EPS for the current year.
In related news, COO William J. Naylon sold 2,400 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $80.05, for a total value of $192,120.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jose Luis Laparte sold 12,772 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $82.58, for a total value of $1,054,711.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,997 shares of company stock worth $3,683,782. 28.00% of the stock is currently owned by insiders.
Several equities analysts have weighed in on PSMT shares. Ifs Securities started coverage on PriceSmart in a research report on Monday, September 25th. They set a “market perform” rating and a $85.00 price target for the company. BidaskClub raised PriceSmart from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research raised PriceSmart from a “sell” rating to a “hold” rating and set a $96.00 price objective for the company in a research report on Tuesday, January 2nd. Scotiabank downgraded PriceSmart to a “hold” rating and set a $90.00 price objective for the company. in a research report on Friday, January 5th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $100.00 price objective on shares of PriceSmart in a research report on Monday, October 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. PriceSmart has a consensus rating of “Hold” and a consensus price target of $92.75.
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PriceSmart Company Profile
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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