PriceSmart, Inc. $PSMT Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its position in PriceSmart, Inc. (NASDAQ:PSMT) by 17.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 183,657 shares of the company’s stock after selling 39,648 shares during the period. Royal Bank of Canada’s holdings in PriceSmart were worth $27,640,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. increased its stake in shares of PriceSmart by 124.2% in the 1st quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock valued at $59,000 after purchasing an additional 370 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in PriceSmart by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company’s stock worth $1,310,000 after purchasing an additional 648 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in PriceSmart by 41.7% in the first quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company’s stock valued at $16,069,000 after purchasing an additional 53,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in PriceSmart by 12.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,642 shares of the company’s stock valued at $6,206,000 after purchasing an additional 7,717 shares during the period. Finally, Intech Investment Management LLC increased its position in shares of PriceSmart by 34.7% in the first quarter. Intech Investment Management LLC now owns 18,673 shares of the company’s stock valued at $1,640,000 after buying an additional 4,806 shares in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Stock Down 1.9%

Shares of NASDAQ PSMT opened at $193.37 on Wednesday. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 37.12 and a beta of 0.76. The company’s 50-day simple moving average is $185.56 and its 200-day simple moving average is $164.21. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08. PriceSmart, Inc. has a 52-week low of $105.46 and a 52-week high of $199.84.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.04). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

Insiders Place Their Bets

In other news, EVP Francisco Velasco sold 338 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $158.56, for a total value of $53,593.28. Following the transaction, the executive vice president owned 75,659 shares in the company, valued at $11,996,491.04. This trade represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of PriceSmart stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $197.38, for a total value of $690,632.62. Following the completion of the sale, the director directly owned 32,150 shares in the company, valued at $6,345,767. This represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 7,737 shares of company stock worth $1,499,649. Corporate insiders own 17.00% of the company’s stock.

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.