Principal Financial Group Inc. Trims Position in PriceSmart, Inc. $PSMT

Principal Financial Group Inc. trimmed its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,840 shares of the company’s stock after selling 3,613 shares during the period. Principal Financial Group Inc.’s holdings in PriceSmart were worth $20,444,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PSMT. Fifth Third Bancorp raised its holdings in shares of PriceSmart by 5,913.3% during the first quarter. Fifth Third Bancorp now owns 28,984 shares of the company’s stock worth $4,362,000 after purchasing an additional 28,502 shares during the last quarter. Abel Hall LLC boosted its holdings in PriceSmart by 40.7% in the first quarter. Abel Hall LLC now owns 3,613 shares of the company’s stock valued at $544,000 after purchasing an additional 1,046 shares during the last quarter. Praxis Investment Management Inc. acquired a new stake in PriceSmart during the 1st quarter worth about $233,000. QRG Capital Management Inc. grew its position in PriceSmart by 15.6% during the 1st quarter. QRG Capital Management Inc. now owns 4,100 shares of the company’s stock worth $617,000 after purchasing an additional 552 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of PriceSmart by 51.5% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 8,180 shares of the company’s stock valued at $1,231,000 after buying an additional 2,779 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Francisco Velasco sold 338 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $158.56, for a total value of $53,593.28. Following the completion of the transaction, the executive vice president owned 75,659 shares of the company’s stock, valued at approximately $11,996,491.04. This represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Beatriz V. Infante sold 800 shares of the stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $195.98, for a total value of $156,784.00. Following the transaction, the director owned 11,210 shares in the company, valued at $2,196,935.80. This represents a 6.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,032 shares of company stock valued at $660,982 over the last quarter. Insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

PriceSmart Stock Performance

PSMT opened at $186.49 on Wednesday. The firm has a fifty day moving average price of $179.97 and a 200 day moving average price of $160.00. PriceSmart, Inc. has a 1 year low of $104.11 and a 1 year high of $199.84. The stock has a market cap of $5.76 billion, a P/E ratio of 35.79 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53.

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

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.