Northern Trust Corp Has $31.80 Million Stock Position in PriceSmart, Inc. $PSMT

Key Points

• Northern Trust Corp increased its stake in PriceSmart, Inc. by 2.1%, acquiring an additional 7,298 shares, bringing its total ownership to 362,018 shares valued at approximately $31.8 million.
• Institutional investors now hold 80.46% of PriceSmart's stock, with notable increases from several hedge funds including Raymond James Financial, which boosted its holdings by 794.2%.
• PriceSmart's stock recently experienced a 0.7% decline, with the company reporting a quarterly EPS of $1.14, slightly below analysts' expectations, despite a revenue increase of 7.1% year-over-year.

Northern Trust Corp increased its position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 362,018 shares of the company's stock after acquiring an additional 7,298 shares during the period. Northern Trust Corp owned about 1.18% of PriceSmart worth $31,803,000 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 company. Nuveen LLC bought a new position in PriceSmart in the first quarter valued at about $36,685,000. Price T Rowe Associates Inc. MD increased its stake in shares of PriceSmart by 670.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 231,949 shares of the company's stock valued at $21,380,000 after buying an additional 201,841 shares during the period. Copeland Capital Management LLC raised its holdings in PriceSmart by 25.8% in the 1st 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. Harbor Capital Advisors Inc. raised its holdings in PriceSmart by 522.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 113,268 shares of the company's stock valued at $9,951,000 after buying an additional 95,073 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in PriceSmart during the 4th quarter worth approximately $6,935,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of PriceSmart from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd.

PriceSmart Trading Up 1.2%

PSMT stock traded up $1.25 during midday trading on Thursday, hitting $109.58. The stock had a trading volume of 176,765 shares, compared to its average volume of 165,118. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.37 billion, a P/E ratio of 23.12 and a beta of 0.79. The business has a fifty day moving average price of $108.19 and a two-hundred day moving average price of $100.21. PriceSmart, Inc. has a 1-year low of $81.25 and a 1-year high of $114.01.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The company reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.08 earnings per share. On average, sell-side analysts predict that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PriceSmart news, EVP Francisco Velasco sold 550 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 77,908 shares of the company's stock, valued at approximately $8,282,399.48. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.10% of the stock is owned by corporate insiders.

PriceSmart Company 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.