Bank of America Corp DE cut its position in PriceSmart, Inc. (NASDAQ:PSMT) by 17.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,888 shares of the company’s stock after selling 23,093 shares during the period. Bank of America Corp DE owned about 0.37% of PriceSmart worth $10,224,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in PriceSmart by 6.6% in the fourth quarter. State Street Corp now owns 425,267 shares of the company’s stock worth $35,509,000 after buying an additional 26,400 shares in the last quarter. Guggenheim Capital LLC bought a new position in PriceSmart during the fourth quarter worth approximately $361,000. Norges Bank bought a new position in PriceSmart during the fourth quarter worth approximately $13,240,000. Quadrature Capital Ltd bought a new position in PriceSmart during the fourth quarter worth approximately $475,000. Finally, Perigon Wealth Management LLC boosted its position in PriceSmart by 1.5% in the fourth quarter. Perigon Wealth Management LLC now owns 10,728 shares of the company’s stock worth $944,000 after buying an additional 161 shares in the last quarter. 72.23% of the stock is owned by institutional investors and hedge funds.
PriceSmart, Inc. (NASDAQ PSMT) opened at 83.90 on Friday. The stock has a market cap of $2.52 billion, a PE ratio of 27.43 and a beta of 1.26. PriceSmart, Inc. has a 1-year low of $75.80 and a 1-year high of $94.40. The firm has a 50-day moving average of $85.68 and a 200-day moving average of $87.36.
PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, July 5th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.05. The company had revenue of $730.30 million for the quarter, compared to the consensus estimate of $734.80 million. PriceSmart had a net margin of 3.13% and a return on equity of 14.05%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. Analysts expect that PriceSmart, Inc. will post $3.06 EPS for the current fiscal year.
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A number of equities analysts have commented on PSMT shares. Roth Capital set a $102.00 price target on shares of PriceSmart and gave the stock a “buy” rating in a research note on Saturday, April 1st. BidaskClub raised shares of PriceSmart from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research cut shares of PriceSmart from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, TheStreet cut shares of PriceSmart from a “b” rating to a “c+” rating in a research note on Thursday, July 13th.
In related news, Director Mitchell G. Lynn sold 2,436 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $86.23, for a total value of $210,056.28. Following the completion of the transaction, the director now directly owns 405 shares of the company’s stock, valued at $34,923.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 28.00% of the company’s stock.
About PriceSmart
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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