PriceSmart, Inc. $PSMT Stock: Boston Trust Walden Corp Reduces Stake

Key Points

• Boston Trust Walden cut its PriceSmart stake by 27.8% in the third quarter, selling 59,960 shares and retaining 156,094 shares, worth about $26.4 million.
• PriceSmart’s latest quarter showed revenue up 13.9% year over year to $1.52 billion, above expectations, while earnings per share of $1.21 fell short of the $1.27 consensus.
• Analysts maintain a consensus Buy rating with a $198 price target; company executives also disclosed share sales, including the COO’s sale of 11,834 shares.

Boston Trust Walden Corp reduced its position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 27.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,094 shares of the company's stock after selling 59,960 shares during the quarter. Boston Trust Walden Corp owned about 0.50% of PriceSmart worth $26,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. bought a new stake in PriceSmart during the second quarter valued at about $814,722,000. William Blair Investment Management LLC purchased a new stake in PriceSmart in the second quarter valued at about $53,157,000. Progeny 3 Inc. raised its stake in PriceSmart by 18.5% in the first quarter. Progeny 3 Inc. now owns 272,100 shares of the company's stock valued at $40,951,000 after buying an additional 42,500 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in PriceSmart in the second quarter valued at about $40,930,000. Finally, Punch & Associates Investment Management Inc. acquired a new stake in PriceSmart in the second quarter worth about $33,471,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

PriceSmart Price Performance

Shares of NASDAQ PSMT opened at $162.56 on Friday. PriceSmart, Inc. has a 12 month low of $114.38 and a 12 month high of $199.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.24 and a quick ratio of 0.52. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 30.59 and a beta of 0.80. The firm's 50 day simple moving average is $169.75 and its 200-day simple moving average is $166.77.

PriceSmart (NASDAQ:PSMT - Get Free Report) last announced its quarterly earnings results on Monday, October 26th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). PriceSmart had a net margin of 2.83% and a return on equity of 12.15%. The business had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. PriceSmart's revenue for the quarter was up 13.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of PriceSmart in a research note on Wednesday, August 26th. Jefferies Financial Group restated a "buy" rating and set a $198.00 price target on shares of PriceSmart in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating. According to MarketBeat.com, PriceSmart presently has a consensus rating of "Buy" and a consensus price target of $198.00.

Insider Activity at PriceSmart

In related news, COO John Hildebrandt sold 11,834 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $168.23, for a total value of $1,990,833.82. Following the completion of the transaction, the chief operating officer directly owned 101,699 shares of the company's stock, valued at approximately $17,108,822.77. This represents a 10.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Francisco Velasco sold 338 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $177.87, for a total transaction of $60,120.06. Following the transaction, the executive vice president owned 75,321 shares in the company, valued at $13,397,346.27. The trade was a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.00% of the stock is currently owned by insiders.

PriceSmart Company Profile

PriceSmart, Inc operates membership warehouse clubs serving consumers and businesses in Latin America and the Caribbean. The company offers a broad selection of products at value-oriented prices, including groceries, fresh foods, beverages, household supplies, apparel, appliances, electronics, furniture and other general merchandise.

Through its warehouse clubs and digital commerce platforms, PriceSmart provides shopping and delivery options designed for both individual members and small businesses.

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