Banque Pictet & Cie SA Purchases New Position in PriceSmart, Inc. (NASDAQ:PSMT)

Banque Pictet & Cie SA acquired a new position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,051 shares of the company's stock, valued at approximately $532,000.

A number of other institutional investors have also recently made changes to their positions in PSMT. US Bancorp DE boosted its position in shares of PriceSmart by 4.6% in the 4th quarter. US Bancorp DE now owns 3,614 shares of the company's stock worth $333,000 after purchasing an additional 160 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of PriceSmart by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,876 shares of the company's stock worth $41,834,000 after purchasing an additional 15,359 shares in the last quarter. Victory Capital Management Inc. lifted its position in PriceSmart by 29.6% during the 4th quarter. Victory Capital Management Inc. now owns 29,300 shares of the company's stock worth $2,701,000 after acquiring an additional 6,685 shares during the period. Atria Investments Inc lifted its position in PriceSmart by 11.4% during the 4th quarter. Atria Investments Inc now owns 2,488 shares of the company's stock worth $229,000 after acquiring an additional 254 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in PriceSmart during the 4th quarter worth about $591,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised PriceSmart from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th.

Insider Buying and Selling at PriceSmart

In other PriceSmart news, EVP Paul Kovaleski sold 896 shares of PriceSmart stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $100.85, for a total transaction of $90,361.60. Following the completion of the transaction, the executive vice president owned 43,039 shares in the company, valued at approximately $4,340,483.15. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leon C. Janks sold 3,000 shares of PriceSmart stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $101.78, for a total value of $305,340.00. Following the transaction, the director owned 33,734 shares of the company's stock, valued at $3,433,446.52. The trade was a 8.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,386 shares of company stock worth $1,063,743. Insiders own 17.10% of the company's stock.

PriceSmart Stock Performance

PSMT traded up $5.47 on Friday, reaching $108.17. 561,147 shares of the stock were exchanged, compared to its average volume of 200,615. The company's 50-day moving average price is $105.14 and its 200 day moving average price is $95.49. PriceSmart, Inc. has a fifty-two week low of $80.27 and a fifty-two week high of $113.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.25 and a quick ratio of 0.46. The firm has a market capitalization of $3.33 billion, a PE ratio of 22.82 and a beta of 0.78.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The company reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). PriceSmart had a return on equity of 12.63% and a net margin of 2.82%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm posted $1.08 EPS. The business's revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

PriceSmart Profile

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.