PriceSmart, Inc. $PSMT Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 37.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,499 shares of the company’s stock after buying an additional 175,806 shares during the period. Victory Capital Management Inc. owned about 2.11% of PriceSmart worth $78,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Asset Management Inc acquired a new position in PriceSmart during the third quarter worth $696,000. AXQ Capital LP acquired a new position in shares of PriceSmart during the 3rd quarter worth about $202,000. State of New Jersey Common Pension Fund D raised its position in shares of PriceSmart by 9.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 19,779 shares of the company’s stock worth $2,397,000 after purchasing an additional 1,705 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in PriceSmart by 3.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,909 shares of the company’s stock valued at $474,000 after buying an additional 136 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in PriceSmart by 15.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 98,242 shares of the company’s stock worth $11,906,000 after buying an additional 13,344 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Paul Kovaleski sold 4,255 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.86, for a total transaction 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 approximately $5,317,558.44. This trade represents a 9.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John D. Hildebrandt sold 7,421 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $136.88, for a total transaction of $1,015,786.48. Following the completion of the sale, the chief operating officer owned 108,194 shares in the company, valued at approximately $14,809,594.72. This trade represents a 6.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,671 shares of company stock valued at $2,283,051. 17.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

PriceSmart Trading Down 4.2%

Shares of PSMT opened at $146.64 on Friday. PriceSmart, Inc. has a 12-month low of $81.25 and a 12-month high of $158.01. The firm has a market capitalization of $4.52 billion, a P/E ratio of 29.93 and a beta of 0.73. The firm has a 50-day moving average price of $143.59 and a 200 day moving average price of $127.49. The company has a current ratio of 1.33, a quick ratio of 0.55 and a debt-to-equity ratio of 0.11.

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

PriceSmart Dividend Announcement

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