Bank of New York Mellon Corp Sells 5,686 Shares of PriceSmart, Inc. $PSMT

Key Points

• Bank of New York Mellon reduced its PriceSmart stake by 2.8%, selling 5,686 shares and retaining 200,300 shares worth approximately $30.1 million. Institutional investors collectively own 80.46% of the company.
• Several institutions increased or initiated positions, including Comerica Bank, Calamos Advisors, Truist Financial, Aubrey Capital Management, and Fifth Third Bancorp, while insiders sold 4,032 shares worth about $661,000 during the quarter.
• PriceSmart reported quarterly revenue of $1.48 billion, up 12.5% year over year, but earnings per share of $1.28 missed estimates by $0.04. The stock opened at $186.24, near its 52-week high of $199.84, and analysts maintain an average “Buy” rating.

Bank of New York Mellon Corp lessened its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,300 shares of the company's stock after selling 5,686 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of PriceSmart worth $30,145,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Comerica Bank boosted its position in shares of PriceSmart by 77.2% during the fourth quarter. Comerica Bank now owns 33,224 shares of the company's stock valued at $4,076,000 after buying an additional 14,475 shares during the last quarter. Calamos Advisors LLC purchased a new position in PriceSmart during the 1st quarter worth $4,165,000. Truist Financial Corp purchased a new position in PriceSmart during the 4th quarter worth $4,393,000. Aubrey Capital Management Ltd bought a new stake in shares of PriceSmart in the 1st quarter worth $2,002,000. Finally, Fifth Third Bancorp grew its stake in shares of PriceSmart by 5,913.3% in the 1st quarter. Fifth Third Bancorp now owns 28,984 shares of the company's stock worth $4,362,000 after acquiring an additional 28,502 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Buying and Selling

In other PriceSmart news, Director Gordon H. Hanson sold 635 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value of $100,076.00. Following the completion of the transaction, the director directly owned 8,149 shares of the company's stock, valued at $1,284,282.40. This trade represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction 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 completion of the sale, the director owned 8,151 shares in the company, valued at $1,264,790.67. This trade represents a 21.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 4,032 shares of company stock worth $660,982. Company insiders own 17.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of PriceSmart from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, PriceSmart presently has an average rating of "Buy".

PriceSmart Price Performance

NASDAQ PSMT opened at $186.24 on Monday. The firm's 50-day simple moving average is $181.61 and its two-hundred day simple moving average is $161.31. PriceSmart, Inc. has a 52 week low of $104.65 and a 52 week high of $199.84. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08. The company has a market cap of $5.75 billion, a PE ratio of 35.75 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 EPS for the quarter, missing analysts' consensus estimates of $1.32 by ($0.04). PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The business'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.

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