TD Asset Management Inc Invests $696,000 in PriceSmart, Inc. $PSMT

TD Asset Management Inc purchased a new stake in PriceSmart, Inc. (NASDAQ:PSMT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,740 shares of the company’s stock, valued at approximately $696,000.

A number of other large investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of PriceSmart by 1.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,004 shares of the company’s stock worth $607,000 after purchasing an additional 93 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in PriceSmart by 10.9% in the second quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock valued at $101,000 after purchasing an additional 93 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in PriceSmart by 20.4% in the third quarter. Nisa Investment Advisors LLC now owns 601 shares of the company’s stock valued at $73,000 after purchasing an additional 102 shares in the last quarter. Arizona State Retirement System lifted its position in PriceSmart by 1.5% during the third quarter. Arizona State Retirement System now owns 7,722 shares of the company’s stock worth $936,000 after purchasing an additional 113 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in PriceSmart by 52.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Paul Kovaleski sold 4,255 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 38,854 shares of the company’s stock, valued at approximately $5,317,558.44. This represents a 9.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John D. Hildebrandt sold 7,421 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $136.88, 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. The trade was a 6.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,671 shares of company stock worth $2,283,051 in the last ninety days. Insiders own 17.00% of the company’s stock.

PriceSmart Trading Down 1.0%

Shares of PSMT opened at $145.16 on Friday. PriceSmart, Inc. has a 52-week low of $81.25 and a 52-week high of $158.01. The business’s fifty day moving average is $144.00 and its 200-day moving average is $127.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.55 and a current ratio of 1.33. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 29.62 and a beta of 0.73.

PriceSmart (NASDAQ:PSMT) last posted its quarterly 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 return on equity of 12.20% and a net margin of 2.79%.The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the firm earned $1.21 EPS. PriceSmart’s revenue was up 9.9% on a year-over-year basis. Equities analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

PriceSmart Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have commented on PSMT. Wall Street Zen lowered shares of PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Weiss Ratings downgraded shares of PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, PriceSmart has a consensus rating of “Buy”.

PriceSmart 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.