Jupiter Topco LLC Makes New Investment in PriceSmart, Inc. $PSMT

Key Points

• Jupiter Topco LLC purchased 12,197 PriceSmart shares worth approximately $2.38 million in the second quarter. Institutional investors and hedge funds collectively own 80.46% of the company.
• PriceSmart insiders sold 7,737 shares valued at roughly $1.51 million over the past 90 days, including sales by a director and an executive vice president.
• Analysts maintain a consensus “Buy” rating with an average $198 price target. The company’s latest quarterly revenue rose 12.5% year over year to $1.48 billion, though EPS of $1.28 fell short of estimates.

Jupiter Topco LLC purchased a new stake in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,197 shares of the company's stock, valued at approximately $2,384,000.

A number of other hedge funds also recently made changes to their positions in PSMT. BlackRock Inc. bought a new position in shares of PriceSmart during the 2nd quarter worth about $814,722,000. William Blair Investment Management LLC bought a new stake in PriceSmart in the second quarter valued at about $53,157,000. Progeny 3 Inc. bought a new stake in PriceSmart in the third quarter valued at about $27,825,000. Bank of New York Mellon Corp bought a new stake in PriceSmart in the second quarter valued at about $40,930,000. Finally, Invesco Ltd. raised its position in PriceSmart by 54.7% in the second quarter. Invesco Ltd. now owns 551,566 shares of the company's stock worth $57,936,000 after purchasing an additional 194,980 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Activity at PriceSmart

In other PriceSmart 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 value of $690,632.62. Following the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Francisco Velasco sold 338 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $177.87, for a total transaction of $60,120.06. Following the sale, the executive vice president directly owned 75,321 shares in the company, valued at $13,397,346.27. This represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,737 shares of company stock valued at $1,506,176 in the last ninety days. Insiders own 17.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PSMT shares. Weiss Ratings restated a "buy (b)" rating on shares of PriceSmart in a research note on Wednesday, August 26th. Jefferies Financial Group reiterated a "buy" rating and issued a $198.00 price objective on shares of PriceSmart in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $198.00.

PriceSmart Stock Performance

PriceSmart stock opened at $172.07 on Thursday. The firm has a market capitalization of $5.31 billion, a P/E ratio of 33.03 and a beta of 0.76. The stock has a fifty day moving average price of $184.77 and a two-hundred day moving average price of $168.48. PriceSmart, Inc. has a 52-week low of $107.21 and a 52-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.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued 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 firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS.

PriceSmart Company 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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