Bank of Montreal Can trimmed its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 30.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 397,122 shares of the company’s stock after selling 176,951 shares during the quarter. Bank of Montreal Can owned about 1.30% of PriceSmart worth $32,146,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSMT. BlackRock Inc. increased its holdings in PriceSmart by 8.4% in the 2nd quarter. BlackRock Inc. now owns 1,476,765 shares of the company’s stock worth $133,648,000 after buying an additional 114,121 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in PriceSmart in the 2nd quarter worth about $7,101,000. FMR LLC grew its stake in shares of PriceSmart by 6.1% during the 2nd quarter. FMR LLC now owns 1,337,985 shares of the company’s stock valued at $121,088,000 after purchasing an additional 76,580 shares during the period. Baillie Gifford & Co. grew its stake in shares of PriceSmart by 5.7% during the 2nd quarter. Baillie Gifford & Co. now owns 1,243,380 shares of the company’s stock valued at $112,526,000 after purchasing an additional 67,169 shares during the period. Finally, Brown Advisory Inc. grew its stake in shares of PriceSmart by 16.8% during the 2nd quarter. Brown Advisory Inc. now owns 404,455 shares of the company’s stock valued at $36,602,000 after purchasing an additional 58,189 shares during the period. Institutional investors own 76.44% of the company’s stock.
In other PriceSmart news, Director Robert E. Price sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $82.93, for a total transaction of $829,300.00. Following the completion of the sale, the director now directly owns 80 shares in the company, valued at approximately $6,634.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 60,000 shares of company stock valued at $4,911,700. Corporate insiders own 28.00% of the company’s stock.
PriceSmart stock opened at $79.24 on Friday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 26.59 and a beta of 1.14. PriceSmart, Inc. has a 52-week low of $74.61 and a 52-week high of $94.45. The company has a quick ratio of 0.49, a current ratio of 1.36 and a debt-to-equity ratio of 0.12.
A number of research firms have issued reports on PSMT. BidaskClub upgraded PriceSmart from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Zacks Investment Research upgraded PriceSmart from a “strong sell” rating to a “hold” rating in a research note on Monday, September 10th. TheStreet downgraded PriceSmart from a “b-” rating to a “c+” rating in a research note on Thursday, August 2nd. ValuEngine upgraded PriceSmart from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Scotiabank set a $86.00 price target on PriceSmart and gave the company a “hold” rating in a research note on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $90.50.
PriceSmart Company Profile
PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of May 7, 2017, it operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
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