Fifth Third Bancorp Has $4.36 Million Stock Position in PriceSmart, Inc. $PSMT

Key Points

• Fifth Third Bancorp dramatically increased its PriceSmart stake by 5,913.3% in the first quarter, ending with 28,984 shares valued at about $4.36 million.
• PriceSmart reported quarterly revenue of $1.48 billion, which topped estimates, but EPS of $1.28 missed consensus by $0.04. Revenue still grew 12.5% from a year earlier.
• Recent sentiment has been mixed: insiders sold shares over the last three months, while Weiss Ratings downgraded the stock from “buy (B+)” to “buy (B).”

Fifth Third Bancorp lifted its position in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 5,913.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,984 shares of the company's stock after acquiring an additional 28,502 shares during the period. Fifth Third Bancorp owned about 0.09% of PriceSmart worth $4,362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. boosted its position in PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock worth $26,000 after acquiring an additional 252 shares during the period. UMB Bank n.a. grew its stake in PriceSmart by 76.0% in the fourth quarter. UMB Bank n.a. now owns 227 shares of the company's stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. CENTRAL TRUST Co purchased a new position in PriceSmart in the fourth quarter valued at about $32,000. Osaic Holdings Inc. increased its holdings in PriceSmart by 57.2% in the second quarter. Osaic Holdings Inc. now owns 492 shares of the company's stock worth $52,000 after buying an additional 179 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of PriceSmart by 45,600.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company's stock worth $56,000 after purchasing an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

PriceSmart Stock Performance

NASDAQ:PSMT opened at $186.00 on Friday. PriceSmart, Inc. has a 12-month low of $104.11 and a 12-month 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 firm has a 50-day moving average price of $178.90 and a 200 day moving average price of $158.90. The firm has a market capitalization of $5.74 billion, a PE ratio of 35.70 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its 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%.PriceSmart's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 EPS.

Insider Activity

In other news, Director Edgar Zurcher sold 2,259 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 8,151 shares of the company's stock, valued at $1,264,790.67. The trade was a 21.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon H. Hanson sold 635 shares of the business's stock in a transaction on Thursday, April 30th. The stock was 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 in the company, valued at approximately $1,284,282.40. This represents a 7.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 4,032 shares of company stock worth $660,982. 17.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.