California Public Employees Retirement System cut its position in PriceSmart, Inc. (NASDAQ:PSMT) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,741 shares of the company’s stock after selling 2,259 shares during the quarter. California Public Employees Retirement System owned 0.13% of PriceSmart worth $3,636,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in PriceSmart by 2.5% in the second quarter. BlackRock Inc. now owns 1,319,667 shares of the company’s stock valued at $115,604,000 after purchasing an additional 32,748 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in PriceSmart by 9.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,511,335 shares of the company’s stock valued at $134,887,000 after purchasing an additional 132,555 shares during the last quarter. Teachers Advisors LLC raised its position in PriceSmart by 11.6% in the second quarter. Teachers Advisors LLC now owns 50,591 shares of the company’s stock valued at $4,432,000 after purchasing an additional 5,267 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in PriceSmart by 9.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 140,793 shares of the company’s stock valued at $12,334,000 after purchasing an additional 11,705 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in PriceSmart in the second quarter valued at about $876,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.
In related news, COO William J. Naylon sold 2,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $80.05, for a total transaction of $192,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Heffner sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $80.00, for a total value of $250,000.00. Following the sale, the chief financial officer now directly owns 27,121 shares of the company’s stock, valued at approximately $2,169,680. The disclosure for this sale can be found here. Insiders have sold 44,997 shares of company stock valued at $3,683,782 in the last ninety days. 28.00% of the stock is currently owned by insiders.
PSMT has been the subject of a number of analyst reports. Ifs Securities initiated coverage on PriceSmart in a research report on Monday, September 25th. They set a “market perform” rating and a $85.00 price objective for the company. BidaskClub upgraded PriceSmart from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded 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 restated a “buy” rating and set a $100.00 price objective on shares of PriceSmart in a research report on Monday, October 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $91.75.
PriceSmart, Inc. (PSMT) opened at $83.00 on Friday. 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 28.62 and a beta of 1.31.
PriceSmart (NASDAQ:PSMT) last released its earnings results on Thursday, January 4th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.08). PriceSmart had a return on equity of 12.61% and a net margin of 2.92%. The business had revenue of $767.10 million for the quarter, compared to analyst estimates of $764.67 million. During the same period in the prior year, the business earned $0.82 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. research analysts predict that PriceSmart, Inc. will post 3.2 EPS for the current fiscal year.
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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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