Black Creek Investment Management Inc. Sells 32,203 Shares of PriceSmart, Inc. $PSMT

Black Creek Investment Management Inc. lowered its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 1.9% during the third quarter, HoldingsChannel.com reports. The fund owned 1,705,752 shares of the company’s stock after selling 32,203 shares during the quarter. PriceSmart accounts for about 9.7% of Black Creek Investment Management Inc.’s holdings, making the stock its 4th biggest position. Black Creek Investment Management Inc. owned about 0.06% of PriceSmart worth $206,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. grew its stake in shares of PriceSmart by 7.7% in the 2nd quarter. American Century Companies Inc. now owns 1,401,706 shares of the company’s stock valued at $147,236,000 after buying an additional 100,785 shares during the period. State Street Corp grew its holdings in shares of PriceSmart by 2.4% in the second quarter. State Street Corp now owns 1,045,998 shares of the company’s stock valued at $109,872,000 after acquiring an additional 24,512 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PriceSmart by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 740,720 shares of the company’s stock valued at $77,812,000 after purchasing an additional 13,119 shares during the last quarter. Victory Capital Management Inc. increased its holdings in PriceSmart by 37.0% during the third quarter. Victory Capital Management Inc. now owns 651,499 shares of the company’s stock worth $78,955,000 after buying an additional 175,806 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of PriceSmart by 54.7% during the 2nd quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after purchasing an additional 194,980 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSMT has been the topic of a number of research reports. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings lowered PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, PriceSmart currently has a consensus rating of “Buy”.

Insider Activity at PriceSmart

In other PriceSmart news, Director Beatriz V. Infante sold 1,995 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $136.87, for a total transaction of $273,055.65. Following the completion of the transaction, the director owned 10,879 shares of the company’s stock, valued at approximately $1,489,008.73. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John D. Hildebrandt sold 7,421 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.88, for a total transaction of $1,015,786.48. Following the sale, the chief operating officer directly owned 108,194 shares in the company, valued at $14,809,594.72. The trade was a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,671 shares of company stock valued at $2,283,051 in the last three months. Corporate insiders own 17.00% of the company’s stock.

PriceSmart Stock Down 3.6%

Shares of NASDAQ PSMT opened at $151.75 on Wednesday. The firm’s fifty day moving average is $142.56 and its 200 day moving average is $127.18. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $158.01. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 30.97 and a beta of 0.73. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11.

PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. PriceSmart had a net margin of 2.79% and a return on equity of 12.20%. PriceSmart’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. On average, equities research analysts expect that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

PriceSmart Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a $0.70 dividend. The ex-dividend date is Monday, August 17th. This represents a yield of 89.0%. PriceSmart’s dividend payout ratio is 28.57%.

About PriceSmart

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.