California State Teachers Retirement System Sells 655 Shares of PriceSmart, Inc. $PSMT

California State Teachers Retirement System trimmed its position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,065 shares of the company's stock after selling 655 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of PriceSmart worth $5,872,897 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PSMT. Hantz Financial Services Inc. increased its stake in shares of PriceSmart by 15.1% during the fourth quarter. Hantz Financial Services Inc. now owns 745 shares of the company's stock worth $91,000 after acquiring an additional 98 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of PriceSmart by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,812 shares of the company's stock valued at $713,000 after purchasing an additional 100 shares during the period. Strs Ohio lifted its stake in PriceSmart by 1.5% in the first quarter. Strs Ohio now owns 6,800 shares of the company's stock valued at $1,023,000 after acquiring an additional 100 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of PriceSmart by 46.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 343 shares of the company's stock valued at $67,000 after buying an additional 109 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in PriceSmart by 22.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 651 shares of the company's stock valued at $98,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

PSMT has been the subject of several research reports. Jefferies Financial Group reissued a "buy" rating and set a $198.00 price target on shares of PriceSmart in a report on Wednesday, August 12th. Weiss Ratings restated a "buy (b)" rating on shares of PriceSmart in a research note on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $198.00.

PriceSmart Stock Performance

Shares of PSMT stock traded up $1.35 during mid-day trading on Tuesday, hitting $170.11. The stock had a trading volume of 76,743 shares, compared to its average volume of 250,069. PriceSmart, Inc. has a fifty-two week low of $111.68 and a fifty-two week high of $199.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53. The company's 50-day simple moving average is $180.89 and its 200-day simple moving average is $169.51. The firm has a market cap of $5.25 billion, a PE ratio of 32.64 and a beta of 0.76.

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

Insider Activity

In related news, Director Sherry Bahrambeygui sold 3,499 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $197.38, for a total value of $690,632.62. Following the completion of the transaction, the director owned 32,150 shares in the company, valued at $6,345,767. This trade represents a 9.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Francisco Velasco sold 338 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $177.87, for a total value of $60,120.06. Following the sale, the executive vice president directly owned 75,321 shares of the company's stock, valued at approximately $13,397,346.27. This represents a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 7,737 shares of company stock valued at $1,506,176. 17.00% of the stock is owned by insiders.

PriceSmart Profile

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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