Public Employees Retirement System of Ohio Reduces Stock Position in PriceSmart, Inc. $PSMT

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in PriceSmart, Inc. by 42.5%, selling 2,978 shares, leaving them with 4,026 shares valued at $423,000.
• Several institutional investors, including GAMMA Investing LLC and CHICAGO TRUST Co NA, have adjusted their positions in PriceSmart, with overall institutional ownership at 80.46%.
• PriceSmart's quarterly earnings report showed an EPS of $1.14, slightly below analyst expectations, but revenue increased year-over-year by 7.1% to $1.32 billion.

Public Employees Retirement System of Ohio decreased its holdings in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 42.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,026 shares of the company's stock after selling 2,978 shares during the period. Public Employees Retirement System of Ohio's holdings in PriceSmart were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of PriceSmart by 13.0% in the second quarter. GAMMA Investing LLC now owns 888 shares of the company's stock worth $93,000 after purchasing an additional 102 shares during the last quarter. CHICAGO TRUST Co NA boosted its position in PriceSmart by 5.0% in the 2nd quarter. CHICAGO TRUST Co NA now owns 2,393 shares of the company's stock valued at $251,000 after buying an additional 115 shares during the period. First Horizon Advisors Inc. grew its stake in PriceSmart by 24.3% in the 1st quarter. First Horizon Advisors Inc. now owns 654 shares of the company's stock worth $57,000 after acquiring an additional 128 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in PriceSmart by 19.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 853 shares of the company's stock worth $73,000 after acquiring an additional 138 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of PriceSmart by 3.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,911 shares of the company's stock worth $524,000 after acquiring an additional 152 shares during the period. 80.46% of the stock is currently owned by institutional investors.

PriceSmart Stock Performance

Shares of PriceSmart stock opened at $123.22 on Monday. The company has a market capitalization of $3.79 billion, a PE ratio of 26.00 and a beta of 0.83. The company has a 50-day simple moving average of $112.62 and a two-hundred day simple moving average of $104.76. PriceSmart, Inc. has a one year low of $81.25 and a one year high of $123.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.50 and a current ratio of 1.28.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The firm had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same period in the previous year, the firm earned $1.08 EPS. The firm's quarterly revenue was up 7.1% on a year-over-year basis. Research analysts expect that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen lowered PriceSmart from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of PriceSmart in a research report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy".

Insider Activity at PriceSmart

In other news, EVP Michael Mccleary sold 9,754 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $110.62, for a total transaction of $1,078,987.48. Following the completion of the sale, the executive vice president owned 47,082 shares in the company, valued at approximately $5,208,210.84. This represents a 17.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.10% of the company's stock.

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.

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