State Board of Administration of Florida Retirement System Acquires 675 Shares of PriceSmart Inc. (PSMT)
State Board of Administration of Florida Retirement System raised its position in shares of PriceSmart Inc. (NASDAQ:PSMT) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,323 shares of the company’s stock after buying an additional 675 shares during the period. State Board of Administration of Florida Retirement System’s holdings in PriceSmart were worth $1,247,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in PSMT. Bank of Montreal Can purchased a new position in PriceSmart during the second quarter worth about $60,005,000. BlackRock Institutional Trust Company N.A. increased its position in PriceSmart by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 487,339 shares of the company’s stock worth $41,219,000 after buying an additional 10,942 shares in the last quarter. State Street Corp increased its position in PriceSmart by 1.8% in the first quarter. State Street Corp now owns 407,286 shares of the company’s stock worth $34,450,000 after buying an additional 7,092 shares in the last quarter. Renaissance Technologies LLC increased its position in PriceSmart by 105.5% in the first quarter. Renaissance Technologies LLC now owns 279,900 shares of the company’s stock worth $23,674,000 after buying an additional 143,700 shares in the last quarter. Finally, Norges Bank purchased a new position in PriceSmart during the fourth quarter worth about $18,287,000. Institutional investors and hedge funds own 73.01% of the company’s stock.
Shares of PriceSmart Inc. (NASDAQ:PSMT) traded down 0.55% during trading on Tuesday, hitting $82.11. 106,879 shares of the company were exchanged. PriceSmart Inc. has a 1-year low of $68.51 and a 1-year high of $98.49. The stock has a market capitalization of $2.45 billion, a PE ratio of 28.04 and a beta of 1.42. The company has a 50 day moving average of $82.06 and a 200-day moving average of $84.49.
PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Thursday, July 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by $0.15. PriceSmart had a return on equity of 15.08% and a net margin of 3.07%. The business earned $704.30 million during the quarter. During the same period last year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts forecast that PriceSmart Inc. will post $2.87 earnings per share for the current year.
A number of equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of PriceSmart from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Roth Capital reaffirmed a “buy” rating on shares of PriceSmart in a report on Friday, June 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $71.00.
PriceSmart Company Profile
PriceSmart, Inc (PriceSmart) business consists primarily of international membership shopping warehouse clubs similar to warehouse clubs in the United States. The Company owns and operates United States-style membership shopping warehouse clubs through wholly owned subsidiaries operating in Latin America and the Caribbean using the trade name PriceSmart.
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