PriceSmart, Inc. $PSMT Stock Sold by Copeland Capital Management LLC

Key Points

• Copeland Capital Management reduced its PriceSmart stake by 26.1% in the third quarter, selling 158,994 shares and retaining 450,889 shares worth approximately $76.25 million.
• Institutional investors and hedge funds own 80.46% of PriceSmart, while insiders have sold 6,937 shares valued at roughly $1.35 million over the past three months.
• Analysts remain bullish, with a consensus “Buy” rating and a $198 price target. PriceSmart shares opened at $171.72, and the company has a market capitalization of about $5.30 billion.

Copeland Capital Management LLC cut its stake in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 26.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 450,889 shares of the company's stock after selling 158,994 shares during the period. PriceSmart makes up approximately 1.7% of Copeland Capital Management LLC's holdings, making the stock its 7th largest holding. Copeland Capital Management LLC owned about 1.46% of PriceSmart worth $76,250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSMT. Bell Investment Advisors Inc purchased a new position in PriceSmart in the 2nd quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. acquired a new position in PriceSmart during the second quarter worth $67,000. Caitong International Asset Management Co. Ltd raised its holdings in PriceSmart by 45,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company's stock worth $56,000 after purchasing an additional 456 shares during the last quarter. State of Wyoming purchased a new stake in PriceSmart during the second quarter worth $92,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in PriceSmart during the second quarter worth $115,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Francisco Velasco sold 338 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $177.87, for a total transaction of $60,120.06. Following the sale, the executive vice president owned 75,321 shares of the company's stock, valued at $13,397,346.27. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $690,632.62. Following the sale, the director directly owned 32,150 shares in the company, valued at approximately $6,345,767. The trade was a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,937 shares of company stock valued at $1,349,392. Insiders own 17.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PSMT. Jefferies Financial Group restated a "buy" rating and issued a $198.00 price target on shares of PriceSmart in a research report on Wednesday, August 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of PriceSmart in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, PriceSmart has a consensus rating of "Buy" and a consensus price target of $198.00.

PriceSmart Stock Up 1.5%

PSMT stock opened at $171.72 on Wednesday. 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 company's 50 day simple moving average is $172.63 and its 200-day simple moving average is $172.71. PriceSmart, Inc. has a 12 month low of $111.68 and a 12 month high of $199.84. The firm has a market capitalization of $5.30 billion, a PE ratio of 32.49 and a beta of 0.73.

About PriceSmart

PriceSmart, Inc operates membership-based warehouse clubs serving consumers and businesses in markets across Central America, the Caribbean and Colombia. The company is headquartered in San Diego, California, and its shares trade on the Nasdaq under the symbol PSMT.

Its warehouse clubs offer a broad selection of products, including groceries, fresh foods, household supplies, health and beauty items, appliances, electronics, furniture, apparel and other general merchandise. PriceSmart also provides members with access to services such as optical offerings, pharmacies and selected ancillary services, depending on the market.

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