Nomura Holdings Inc. Acquires New Shares in PriceSmart, Inc. $PSMT

Key Points

• Nomura Holdings Inc. acquired a new position in PriceSmart, Inc., purchasing 5,127 shares valued at approximately $450,000 during the first quarter of 2023.
• Institutional investors hold 80.46% of PriceSmart's stock, indicating strong interest and confidence in the company's performance.
• PriceSmart's recent earnings report showed a 7.1% increase in revenue year-over-year, although its earnings per share missed analyst expectations by $0.02.

Nomura Holdings Inc. bought a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,127 shares of the company's stock, valued at approximately $450,000.

A number of other hedge funds also recently modified their holdings of the business. American Century Companies Inc. increased its holdings in PriceSmart by 5.7% in the first quarter. American Century Companies Inc. now owns 1,300,921 shares of the company's stock valued at $114,286,000 after purchasing an additional 70,225 shares during the period. Copeland Capital Management LLC boosted its position in shares of PriceSmart by 25.8% during the first quarter. Copeland Capital Management LLC now owns 782,353 shares of the company's stock valued at $68,730,000 after buying an additional 160,656 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in PriceSmart by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 456,915 shares of the company's stock valued at $40,140,000 after purchasing an additional 3,039 shares during the last quarter. Nuveen LLC bought a new stake in shares of PriceSmart during the first quarter valued at about $36,685,000. Finally, Northern Trust Corp increased its holdings in PriceSmart by 2.1% during the 1st quarter. Northern Trust Corp now owns 362,018 shares of the company's stock worth $31,803,000 after acquiring an additional 7,298 shares during the period. Institutional investors and hedge funds own 80.46% of the company's stock.

PriceSmart Price Performance

Shares of PriceSmart stock traded up $2.01 on Monday, hitting $111.98. 177,985 shares of the company traded hands, compared to its average volume of 233,081. The stock has a market capitalization of $3.44 billion, a P/E ratio of 23.62 and a beta of 0.79. The business has a 50-day simple moving average of $108.27 and a 200 day simple moving average of $100.52. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $114.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.50 and a current ratio of 1.28.

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

Wall Street Analyst Weigh In

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

Insider Activity

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

PriceSmart Profile

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.