Invesco Ltd. Has $31.33 Million Position in PriceSmart, Inc. $PSMT

Key Points

• Invesco Ltd. increased its stake in PriceSmart, Inc. by 24.1%, owning approximately 1.16% of the company valued at $31.3 million following the purchase of an additional 69,248 shares in Q1.
• PriceSmart's stock performance showed a quarterly revenue increase of 7.1% year-over-year, reaching $1.32 billion, despite missing EPS estimates.
• Wall Street analysts upgraded PriceSmart from a "hold" to a "buy" rating, reflecting positive sentiment about the company's prospects.

Invesco Ltd. increased its holdings in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 24.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,586 shares of the company's stock after buying an additional 69,248 shares during the quarter. Invesco Ltd. owned about 1.16% of PriceSmart worth $31,326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in PriceSmart by 670.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 231,949 shares of the company's stock valued at $21,380,000 after purchasing an additional 201,841 shares in the last quarter. Copeland Capital Management LLC boosted its stake in PriceSmart by 25.8% during the 1st quarter. Copeland Capital Management LLC now owns 782,353 shares of the company's stock valued at $68,730,000 after purchasing an additional 160,656 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in PriceSmart by 522.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 113,268 shares of the company's stock valued at $9,951,000 after purchasing an additional 95,073 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in PriceSmart during the 4th quarter valued at $6,935,000. Finally, GAMMA Investing LLC boosted its stake in PriceSmart by 7,364.9% during the 1st quarter. GAMMA Investing LLC now owns 69,050 shares of the company's stock valued at $6,066,000 after purchasing an additional 68,125 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered PriceSmart from a "buy" rating to a "hold" rating in a research note on Friday.

PriceSmart Price Performance

Shares of PSMT traded down $2.06 during trading hours on Monday, hitting $108.68. 141,726 shares of the company were exchanged, compared to its average volume of 190,400. The company has a market capitalization of $3.34 billion, a PE ratio of 22.93 and a beta of 0.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.28 and a quick ratio of 0.50. The firm has a fifty day simple moving average of $107.40 and a 200-day simple moving average of $99.46. PriceSmart, Inc. has a one year low of $81.25 and a one year high of $114.01.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The business's revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. As a group, sell-side analysts predict that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Francisco Velasco sold 550 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $106.31, for a total value of $58,470.50. Following the completion of the sale, the executive vice president directly owned 77,908 shares of the company's stock, valued at approximately $8,282,399.48. This represents a 0.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.10% of the company's stock.

About PriceSmart

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.