PriceSmart, Inc. $PSMT Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its PriceSmart stake by 22.7% in the first quarter, purchasing 5,680 additional shares and bringing its holdings to 30,720 shares valued at approximately $4.6 million.
• Other institutional investors, including Goldman Sachs and UBS Asset Management, also raised their positions; institutions and hedge funds collectively own 80.46% of PriceSmart.
• PriceSmart’s latest quarterly revenue rose 12.5% year over year to $1.48 billion, exceeding estimates, although earnings of $1.28 per share fell short of consensus by $0.04. Meanwhile, insiders sold 7,737 shares worth about $1.5 million over the past three months.

California State Teachers Retirement System increased its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,720 shares of the company's stock after buying an additional 5,680 shares during the quarter. California State Teachers Retirement System owned 0.10% of PriceSmart worth $4,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PSMT. Advisors Asset Management Inc. boosted its holdings in PriceSmart by 124.2% in the first quarter. Advisors Asset Management Inc. now owns 668 shares of the company's stock worth $59,000 after acquiring an additional 370 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of PriceSmart by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company's stock worth $1,310,000 after acquiring an additional 648 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of PriceSmart by 41.7% during the first quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company's stock valued at $16,069,000 after acquiring an additional 53,874 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of PriceSmart by 12.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,642 shares of the company's stock valued at $6,206,000 after acquiring an additional 7,717 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in shares of PriceSmart by 34.7% in the 1st quarter. Intech Investment Management LLC now owns 18,673 shares of the company's stock valued at $1,640,000 after purchasing an additional 4,806 shares during the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

PriceSmart Price Performance

NASDAQ PSMT opened at $177.05 on Friday. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 33.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53. The stock's fifty day moving average price is $186.17 and its 200 day moving average price is $164.88. PriceSmart, Inc. has a 1 year low of $105.46 and a 1 year high of $199.84.

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

Insider Transactions at PriceSmart

In related news, Director Beatriz V. Infante sold 800 shares of the company's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $195.98, for a total transaction of $156,784.00. Following the completion of the sale, the director directly owned 11,210 shares in the company, valued at $2,196,935.80. This represents a 6.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $197.38, for a total transaction of $690,632.62. Following the sale, the director directly owned 32,150 shares of the company's stock, valued at $6,345,767. The trade was a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,737 shares of company stock worth $1,499,649 over the last three months. 17.00% of the stock is currently owned by insiders.

PriceSmart 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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