Vanguard Group Inc. Sells 52,727 Shares of PriceSmart, Inc. $PSMT

Key Points

• Vanguard Group Inc. has reduced its holdings in PriceSmart, Inc. by 1.5%, owning approximately 3.37 million shares, valued at $296 million as of its latest SEC filing.
• Other institutional investors have significantly increased their stakes in PriceSmart, with Harbor Capital Advisors Inc. raising its holdings by 522.5% and GAMMA Investing LLC increasing by a staggering 7,364.9% in the first quarter.
• Despite reporting a slight earnings miss, PriceSmart's revenue was up 7.1% year-over-year, reaching $1.32 billion, while analysts project an EPS of 5.28 for the current fiscal year.

Vanguard Group Inc. lowered its holdings in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,370,377 shares of the company's stock after selling 52,727 shares during the period. Vanguard Group Inc. owned approximately 10.96% of PriceSmart worth $296,088,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PSMT. Canada Pension Plan Investment Board raised its holdings in shares of PriceSmart by 70,410.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 282,040 shares of the company's stock valued at $25,996,000 after acquiring an additional 281,640 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of PriceSmart by 670.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 231,949 shares of the company's stock valued at $21,380,000 after acquiring an additional 201,841 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of 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 acquiring an additional 160,656 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of 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 acquiring an additional 95,073 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PriceSmart in the 4th quarter valued at about $6,935,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

PriceSmart Price Performance

Shares of PriceSmart stock traded up $3.20 during trading on Friday, hitting $110.74. 235,216 shares of the stock traded hands, compared to its average volume of 186,797. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 23.36 and a beta of 0.77. The firm's fifty day moving average is $107.35 and its 200-day moving average is $99.26. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $114.01.

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

Insider Activity at PriceSmart

In related news, EVP Francisco Velasco sold 550 shares of the firm'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 transaction of $58,470.50. Following the transaction, the executive vice president directly owned 77,908 shares in the company, valued at $8,282,399.48. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut PriceSmart from a "buy" rating to a "hold" rating in a report on Friday.

PriceSmart 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.