Nuveen LLC Acquires Shares of 400,029 PriceSmart, Inc. $PSMT

Key Points

• Nuveen LLC has made a significant investment of approximately $36.69 million in PriceSmart, acquiring 400,029 shares, which represents about 1.30% of the company's stock.
• Multiple large investors including Invesco Ltd. and Connor Clark & Lunn Investment Management have increased their stakes in PriceSmart, indicating growing institutional interest in the company.
• PriceSmart reported $1.14 earnings per share for the most recent quarter, slightly below analysts' expectations, but showed a 7.1% increase in quarterly revenue year-over-year.

Nuveen LLC purchased a new stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 400,029 shares of the company's stock, valued at approximately $36,685,000. Nuveen LLC owned about 1.30% of PriceSmart at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of PriceSmart by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,305,698 shares of the company's stock worth $120,345,000 after purchasing an additional 5,947 shares during the last quarter. Copeland Capital Management LLC grew its holdings in shares of PriceSmart by 25.8% in the first quarter. Copeland Capital Management LLC now owns 782,353 shares of the company's stock worth $68,730,000 after purchasing an additional 160,656 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of PriceSmart by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 456,915 shares of the company's stock worth $40,140,000 after purchasing an additional 3,039 shares during the last quarter. Invesco Ltd. grew its holdings in shares of PriceSmart by 24.1% in the first quarter. Invesco Ltd. now owns 356,586 shares of the company's stock worth $31,326,000 after purchasing an additional 69,248 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of PriceSmart by 13.0% in the fourth quarter. Northern Trust Corp now owns 354,720 shares of the company's stock worth $32,695,000 after purchasing an additional 40,927 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Francisco Velasco sold 550 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 17.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of PriceSmart from a "hold" rating to a "buy" rating in a report on Saturday, July 5th.

PriceSmart Trading Down 1.1%

PSMT stock traded down $1.24 on Thursday, reaching $107.54. The company's stock had a trading volume of 215,253 shares, compared to its average volume of 185,334. The business has a fifty day simple moving average of $107.24 and a two-hundred day simple moving average of $99.13. PriceSmart, Inc. has a 12-month low of $81.25 and a 12-month high of $114.01. The firm has a market cap of $3.31 billion, a PE ratio of 22.69 and a beta of 0.77. 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 announced its quarterly earnings results on Thursday, July 10th. The company reported $1.14 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 business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same period in the previous year, the business earned $1.08 EPS. The business's revenue was up 7.1% compared to the same quarter last year. As a group, research analysts forecast that PriceSmart, Inc. will post 5.28 EPS for the current year.

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.