Empowered Funds LLC Acquires New Position in PriceSmart, Inc. $PSMT

Key Points

• Empowered Funds LLC initiated a PriceSmart position of 35,456 shares worth approximately $6.9 million, while institutional investors collectively own 80.46% of the company.
• PriceSmart’s latest quarterly revenue rose 12.5% year over year to $1.48 billion, though earnings of $1.28 per share narrowly missed analysts’ $1.32 estimate.
• Analysts maintain a favorable outlook, with an average “Buy” rating and a $198 price target; however, insiders sold 7,737 shares worth about $1.5 million over the past 90 days.

Empowered Funds LLC bought a new position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 35,456 shares of the company's stock, valued at approximately $6,926,000. Empowered Funds LLC owned about 0.11% of PriceSmart at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in PriceSmart during the second quarter valued at approximately $294,000. Public Employees Retirement System of Ohio purchased a new stake in shares of PriceSmart in the 2nd quarter valued at $123,000. Capstone Investment Advisors LLC purchased a new stake in shares of PriceSmart in the 2nd quarter valued at $578,000. Corient Private Wealth LP purchased a new stake in shares of PriceSmart in the 2nd quarter valued at $831,000. Finally, Punch & Associates Investment Management Inc. bought a new position in shares of PriceSmart during the 2nd quarter valued at $33,471,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

Insiders Place Their Bets

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

PriceSmart Price Performance

Shares of NASDAQ:PSMT opened at $169.34 on Monday. The stock's 50-day moving average is $185.62 and its 200 day moving average is $168.14. The company has a market cap of $5.23 billion, a PE ratio of 32.50 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53. PriceSmart, Inc. has a 1 year low of $106.87 and a 1 year high of $199.84.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 8th. The company reported $1.28 earnings per share for the quarter, missing analysts' consensus estimates of $1.32 by ($0.04). The business had revenue of $1.48 billion during 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%.PriceSmart's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share.

Analyst Ratings Changes

PSMT has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a "buy" rating and issued a $198.00 target price on shares of PriceSmart in a research report on Wednesday, August 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of PriceSmart in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $198.00.

PriceSmart Profile

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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