Suntrust Banks Inc. Purchases 779 Shares of PriceSmart, Inc. (PSMT)
Suntrust Banks Inc. boosted its position in PriceSmart, Inc. (NASDAQ:PSMT) by 10.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,485 shares of the company’s stock after acquiring an additional 779 shares during the period. Suntrust Banks Inc.’s holdings in PriceSmart were worth $741,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in PSMT. Citigroup Inc. boosted its holdings in PriceSmart by 18.5% in the second quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock worth $124,000 after acquiring an additional 220 shares in the last quarter. SG Americas Securities LLC bought a new position in PriceSmart in the first quarter worth approximately $135,000. Victory Capital Management Inc. boosted its holdings in PriceSmart by 23.8% in the first quarter. Victory Capital Management Inc. now owns 1,670 shares of the company’s stock worth $154,000 after acquiring an additional 321 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in PriceSmart in the first quarter worth approximately $160,000. Finally, GSA Capital Partners LLP bought a new position in PriceSmart in the second quarter worth approximately $238,000. Institutional investors and hedge funds own 71.98% of the company’s stock.
In other news, Director Sherry S. Bahrambeygui sold 3,561 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $84.88, for a total value of $302,257.68. Following the sale, the director now directly owns 125,374 shares of the company’s stock, valued at approximately $10,641,745.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 28.00% of the company’s stock.
Shares of PriceSmart, Inc. (PSMT) opened at 89.50 on Friday. PriceSmart, Inc. has a 52 week low of $78.00 and a 52 week high of $94.40. The stock has a market capitalization of $2.69 billion, a P/E ratio of 29.26 and a beta of 1.26. The stock has a 50 day moving average price of $85.28 and a 200 day moving average price of $86.38.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, July 5th. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). PriceSmart had a return on equity of 14.05% and a net margin of 3.13%. The company had revenue of $730.30 million during the quarter, compared to the consensus estimate of $734.80 million. During the same period in the prior year, the firm earned $0.55 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that PriceSmart, Inc. will post $3.07 EPS for the current year.
PSMT has been the topic of several recent research reports. Zacks Investment Research upgraded PriceSmart from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Roth Capital set a $102.00 price target on PriceSmart and gave the stock a “buy” rating in a report on Tuesday, August 8th. Ifs Securities initiated coverage on PriceSmart in a report on Monday, September 25th. They issued a “market perform” rating and a $85.00 price target on the stock. BidaskClub upgraded PriceSmart from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet lowered PriceSmart from a “b” rating to a “c+” rating in a report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $92.50.
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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