PriceSmart, Inc. $PSMT Holdings Lowered by Copeland Capital Management LLC

Key Points

• Copeland Capital Management cut its PriceSmart stake by 2.2% in the first quarter, selling 14,495 shares and leaving it with 638,913 shares valued at about $96.2 million. PriceSmart remains its second-largest holding.
• Insiders also sold shares over the past 90 days, including EVP Francisco Velasco and Director Gordon H. Hanson, with total insider sales reaching 4,032 shares worth $660,982.
• PriceSmart reported mixed quarterly results, posting $1.28 EPS versus the $1.32 estimate but generating $1.48 billion in revenue, above expectations and up 12.5% year over year. Shares were down 1.6% in Friday trading, and Weiss Ratings slightly lowered its rating while the overall analyst consensus stayed at Buy.

Copeland Capital Management LLC reduced its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 638,913 shares of the company's stock after selling 14,495 shares during the quarter. PriceSmart comprises approximately 2.1% of Copeland Capital Management LLC's holdings, making the stock its 2nd largest position. Copeland Capital Management LLC owned about 2.07% of PriceSmart worth $96,157,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of PriceSmart by 2.4% in the second quarter. State Street Corp now owns 1,045,998 shares of the company's stock valued at $109,872,000 after purchasing an additional 24,512 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PriceSmart by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 763,261 shares of the company's stock worth $93,640,000 after acquiring an additional 7,095 shares during the period. Invesco Ltd. grew its position in shares of PriceSmart by 13.3% during the 3rd quarter. Invesco Ltd. now owns 624,985 shares of the company's stock worth $75,742,000 after buying an additional 73,419 shares in the last quarter. Morgan Stanley boosted its stake in shares of PriceSmart by 1.7% during the fourth quarter. Morgan Stanley now owns 495,799 shares of the company's stock valued at $60,820,000 after purchasing an additional 8,428 shares in the last quarter. Finally, Pertento Partners LLP raised its position in shares of PriceSmart by 17.3% in the 4th quarter. Pertento Partners LLP now owns 488,387 shares of the company's stock worth $59,910,000 after acquiring an additional 71,879 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PriceSmart

In other news, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $158.56, for a total value of $53,593.28. Following the sale, the executive vice president directly owned 75,659 shares of the company's stock, valued at $11,996,491.04. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gordon H. Hanson sold 635 shares of the company's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total transaction of $100,076.00. Following the sale, the director directly owned 8,149 shares of the company's stock, valued at $1,284,282.40. The trade was a 7.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 4,032 shares of company stock worth $660,982. 17.00% of the stock is owned by insiders.

PriceSmart Stock Down 1.6%

PSMT opened at $186.00 on Friday. The company has a fifty day moving average of $178.90 and a two-hundred day moving average of $158.90. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 35.70 and a beta of 0.76. PriceSmart, Inc. has a fifty-two week low of $104.11 and a fifty-two week high of $199.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.04). The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.43 billion. PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The company's revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 earnings per share.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of PriceSmart from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy".

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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