Vanguard Group Inc. Lowers Holdings in PriceSmart, Inc. $PSMT

Vanguard Group Inc. decreased its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,329,613 shares of the company’s stock after selling 83,294 shares during the period. Vanguard Group Inc. owned 10.78% of PriceSmart worth $403,516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of PriceSmart during the second quarter valued at approximately $28,000. First Horizon Corp bought a new stake in shares of PriceSmart during the third quarter valued at approximately $30,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of PriceSmart by 52.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of PriceSmart during the third quarter worth $39,000. Institutional investors own 80.46% of the company’s stock.

Insider Buying and Selling

In other PriceSmart news, Director Leon C. Janks sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $137.29, for a total transaction of $411,870.00. Following the sale, the director directly owned 30,734 shares in the company, valued at $4,219,470.86. This represents a 8.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Paul Kovaleski sold 4,255 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $136.86, for a total value of $582,339.30. Following the completion of the sale, the executive vice president directly owned 38,854 shares of the company’s stock, valued at $5,317,558.44. The trade was a 9.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,671 shares of company stock valued at $2,283,051. Insiders own 17.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PSMT shares. Wall Street Zen downgraded shares of PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Weiss Ratings lowered PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

PriceSmart Trading Down 1.0%

PSMT stock opened at $153.80 on Friday. The firm has a market cap of $4.74 billion, a PE ratio of 31.39 and a beta of 0.75. The firm has a fifty day moving average price of $140.76 and a 200 day moving average price of $126.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.55 and a current ratio of 1.33. PriceSmart, Inc. has a fifty-two week low of $81.25 and a fifty-two week high of $157.87.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, January 7th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. PriceSmart had a net margin of 2.79% and a return on equity of 12.20%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $1.21 earnings per share. PriceSmart’s quarterly revenue was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given a $0.70 dividend. The ex-dividend date is Monday, August 17th. This represents a yield of 89.0%. PriceSmart’s dividend payout ratio (DPR) is currently 28.57%.

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.