35,813 Shares in PriceSmart, Inc. $PSMT Purchased by Truist Financial Corp

Key Points

• Truist Financial opened a new position in PriceSmart, buying 35,813 shares worth about $4.39 million in the fourth quarter, giving it roughly 0.12% ownership of the company.
• Institutional interest in PriceSmart remains strong, with large investors such as Dimensional Fund Advisors, State Street, Victory Capital, and Invesco all increasing their stakes; institutions and hedge funds now own about 80.46% of the stock.
• PriceSmart recently beat quarterly expectations, reporting $1.62 EPS versus the $1.57 estimate and $1.50 billion in revenue, while analysts currently hold a Buy consensus rating despite mixed recent rating changes.

Truist Financial Corp acquired a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,813 shares of the company's stock, valued at approximately $4,393,000. Truist Financial Corp owned about 0.12% of PriceSmart as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of PriceSmart by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,258,234 shares of the company's stock worth $152,489,000 after purchasing an additional 10,537 shares during the last quarter. State Street Corp increased its stake in PriceSmart by 2.4% during the second quarter. State Street Corp now owns 1,045,998 shares of the company's stock valued at $109,872,000 after acquiring an additional 24,512 shares during the period. Victory Capital Management Inc. increased its stake in PriceSmart by 37.0% during the third quarter. Victory Capital Management Inc. now owns 651,499 shares of the company's stock valued at $78,955,000 after acquiring an additional 175,806 shares during the period. Invesco Ltd. increased its stake in PriceSmart by 13.3% during the third quarter. Invesco Ltd. now owns 624,985 shares of the company's stock valued at $75,742,000 after acquiring an additional 73,419 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in PriceSmart by 24.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 489,201 shares of the company's stock valued at $59,286,000 after acquiring an additional 97,598 shares during the period. Institutional investors and hedge funds own 80.46% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PSMT shares. Weiss Ratings upgraded PriceSmart from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday. Wall Street Zen lowered PriceSmart from a "buy" rating to a "hold" rating in a research note on Sunday, January 11th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Insider Buying and Selling

In related news, Director Gordon H. Hanson sold 635 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total transaction of $100,076.00. Following the sale, the director directly owned 8,149 shares in the company, valued at $1,284,282.40. This represents a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $155.17, for a total value of $350,529.03. Following the sale, the director owned 8,151 shares in the company, valued at approximately $1,264,790.67. This trade represents a 21.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.00% of the stock is owned by corporate insiders.

PriceSmart Stock Performance

PSMT stock opened at $158.26 on Monday. PriceSmart, Inc. has a 1-year low of $99.58 and a 1-year high of $165.46. The firm has a market cap of $4.89 billion, a P/E ratio of 31.22 and a beta of 0.77. The business's 50 day moving average is $152.74 and its 200-day moving average is $138.90. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.10.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its quarterly earnings data on Wednesday, April 8th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.05. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The company's revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 EPS.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.