PriceSmart, Inc. (NASDAQ:PSMT) Holdings Decreased by Bank of America Corp DE

Bank of America Corp DE lowered its stake in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 56.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 34,815 shares of the company's stock after selling 44,356 shares during the period. Bank of America Corp DE owned 0.11% of PriceSmart worth $3,209,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Sterling Capital Management LLC grew its stake in PriceSmart by 536.7% in the fourth quarter. Sterling Capital Management LLC now owns 312 shares of the company's stock worth $29,000 after purchasing an additional 263 shares in the last quarter. Heck Capital Advisors LLC bought a new position in PriceSmart during the 4th quarter worth approximately $53,000. Smartleaf Asset Management LLC lifted its holdings in PriceSmart by 393.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 715 shares of the company's stock worth $65,000 after buying an additional 570 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of PriceSmart by 17,300.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 870 shares of the company's stock worth $80,000 after acquiring an additional 865 shares in the last quarter. Finally, KBC Group NV grew its position in shares of PriceSmart by 49.0% in the 4th quarter. KBC Group NV now owns 1,159 shares of the company's stock worth $107,000 after acquiring an additional 381 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised PriceSmart from a "hold" rating to a "buy" rating in a research report on Saturday.

Insider Activity

In related news, Director Jeffrey Fisher sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $104.00, for a total value of $208,000.00. Following the sale, the director now owns 11,011 shares of the company's stock, valued at approximately $1,145,144. This trade represents a 15.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paul Kovaleski sold 896 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $100.85, for a total value of $90,361.60. Following the transaction, the executive vice president now owns 43,039 shares of the company's stock, valued at $4,340,483.15. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,836 shares of company stock valued at $1,005,273. 17.10% of the stock is currently owned by insiders.

PriceSmart Stock Performance

Shares of NASDAQ:PSMT traded down $0.73 on Wednesday, reaching $106.15. 131,813 shares of the company's stock were exchanged, compared to its average volume of 192,991. The business's 50-day moving average is $98.28 and its two-hundred day moving average is $92.99. The company has a quick ratio of 0.43, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. PriceSmart, Inc. has a fifty-two week low of $77.51 and a fifty-two week high of $109.19. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 23.38 and a beta of 0.75.

PriceSmart (NASDAQ:PSMT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.51 by ($0.06). PriceSmart had a net margin of 2.76% and a return on equity of 12.29%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the company earned $1.31 EPS. PriceSmart's quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts forecast that PriceSmart, Inc. will post 5.28 EPS for the current year.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.