California State Teachers Retirement System Grows Stock Position in PriceSmart, Inc. $PSMT

Key Points

• California State Teachers Retirement System increased its PriceSmart stake by 19,017.5% in the second quarter, holding 5.87 million shares worth approximately $1.15 billion, or 19.03% of the company. Institutional investors collectively own 80.46% of PriceSmart.
• PriceSmart’s latest quarterly revenue rose 12.5% year over year to $1.48 billion, exceeding estimates, while EPS of $1.28 fell slightly short of the $1.32 consensus forecast.
• Analysts maintain a consensus “Buy” rating with a $198 price target, while insiders sold 7,737 shares worth about $1.51 million over the past 90 days.

California State Teachers Retirement System grew its stake in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 19,017.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,872,897 shares of the company's stock after buying an additional 5,842,177 shares during the quarter. California State Teachers Retirement System owned 19.03% of PriceSmart worth $1,147,212,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PSMT. Bell Investment Advisors Inc acquired a new stake in shares of PriceSmart during the 2nd quarter worth approximately $40,000. UMB Bank n.a. lifted its stake in shares of PriceSmart by 76.0% in the 4th quarter. UMB Bank n.a. now owns 227 shares of the company's stock valued at $28,000 after purchasing an additional 98 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock valued at $26,000 after purchasing an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of PriceSmart in the 2nd quarter valued at $67,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in PriceSmart by 45,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company's stock worth $56,000 after buying an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Insider Buying and Selling

In other PriceSmart news, Director Sherry Bahrambeygui sold 3,499 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $197.38, for a total value of $690,632.62. Following the completion of the sale, the director directly owned 32,150 shares in the company, valued at $6,345,767. This represents a 9.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Beatriz Infante sold 800 shares of the firm's stock in a transaction on Monday, July 13th. The stock was sold at an average price of $195.98, for a total value of $156,784.00. Following the completion of the sale, the director directly owned 11,210 shares of the company's stock, valued at $2,196,935.80. This trade represents a 6.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 7,737 shares of company stock worth $1,506,176. 17.00% of the stock is owned by corporate insiders.

PriceSmart Trading Up 0.8%

Shares of PriceSmart stock opened at $170.81 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.53 and a debt-to-equity ratio of 0.08. PriceSmart, Inc. has a twelve month low of $111.68 and a twelve month high of $199.84. The firm has a market capitalization of $5.27 billion, a PE ratio of 32.79 and a beta of 0.76. The firm's 50-day moving average price is $181.40 and its 200 day moving average price is $169.29.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.04). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The business's revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 earnings per share.

Analysts Set New Price Targets

Several research firms have recently issued reports on PSMT. Weiss Ratings reissued a "buy (b)" rating on shares of PriceSmart in a research note on Wednesday, August 26th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $198.00 price target on shares of PriceSmart in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, PriceSmart currently has an average rating of "Buy" and a consensus target price of $198.00.

About PriceSmart

PriceSmart, Inc operates membership warehouse clubs serving consumers and businesses in Latin America and the Caribbean. The company offers a broad selection of products at competitive prices, including groceries, fresh foods, household goods, appliances, electronics, apparel, furniture, and other general merchandise.

PriceSmart also provides members with access to ancillary services and digital shopping capabilities, including online ordering and delivery options in selected markets. Its business model combines membership fees with the sale of merchandise through warehouse clubs and e-commerce channels.

Founded in 1994 by Sol and Robert Price, PriceSmart is headquartered in San Diego, California.

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