PriceSmart, Inc. (PSMT) Shares Bought by Raymond James & Associates
Raymond James & Associates lifted its position in PriceSmart, Inc. (NASDAQ:PSMT) by 33.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,902 shares of the company’s stock after acquiring an additional 23,389 shares during the period. Raymond James & Associates’ holdings in PriceSmart were worth $5,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Paradigm Asset Management Co. LLC boosted its stake in shares of PriceSmart by 188.9% in the third quarter. Paradigm Asset Management Co. LLC now owns 1,300 shares of the company’s stock worth $105,000 after acquiring an additional 850 shares during the last quarter. ETF Managers Group LLC boosted its stake in shares of PriceSmart by 15.6% in the fourth quarter. ETF Managers Group LLC now owns 1,555 shares of the company’s stock worth $92,000 after acquiring an additional 210 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of PriceSmart in the fourth quarter worth approximately $141,000. Rafferty Asset Management LLC acquired a new stake in shares of PriceSmart in the third quarter worth approximately $277,000. Finally, Wesbanco Bank Inc. acquired a new stake in shares of PriceSmart in the fourth quarter worth approximately $222,000. 74.50% of the stock is currently owned by hedge funds and other institutional investors.
In other PriceSmart news, Director Mitchell G. Lynn sold 592 shares of PriceSmart stock in a transaction on Friday, February 1st. The stock was sold at an average price of $60.91, for a total value of $36,058.72. Following the sale, the director now owns 1,988 shares in the company, valued at $121,089.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rodrigo Calvo sold 2,117 shares of PriceSmart stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $65.89, for a total value of $139,489.13. Following the completion of the sale, the executive vice president now owns 16,183 shares in the company, valued at approximately $1,066,297.87. The disclosure for this sale can be found here. Insiders sold 33,309 shares of company stock worth $2,065,264 in the last 90 days. Company insiders own 27.10% of the company’s stock.
PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, January 9th. The company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.17. The company had revenue of $779.60 million for the quarter, compared to analyst estimates of $795.03 million. PriceSmart had a return on equity of 11.73% and a net margin of 2.09%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities analysts anticipate that PriceSmart, Inc. will post 2.67 EPS for the current year.
The firm also recently announced a semiannual dividend, which was paid on Thursday, February 28th. Shareholders of record on Friday, February 15th were given a $0.35 dividend. The ex-dividend date was Thursday, February 14th. This represents a yield of 1.15%. PriceSmart’s dividend payout ratio is currently 28.81%.
A number of equities analysts have weighed in on PSMT shares. BidaskClub lowered PriceSmart from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 31st. ValuEngine lowered PriceSmart from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Finally, Zacks Investment Research lowered PriceSmart from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company. PriceSmart currently has a consensus rating of “Hold” and a consensus price target of $77.00.
PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
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