Vanguard Group Inc. Decreases Stake in PriceSmart, Inc. $PSMT

Key Points

• Vanguard Group Inc. cut its stake in PriceSmart by 3.7% in the fourth quarter, selling 123,973 shares and leaving it with 3,205,640 shares (~10.40%) worth $393,236,000.
• PriceSmart beat expectations with $1.62 EPS vs. $1.57 expected and reported $1.50 billion in revenue (+9.7% YoY); the stock has a market cap of $4.94 billion and a P/E of 31.54, trading near its 12‑month high.
• Two directors recently sold shares (Gordon H. Hanson sold 635 shares, a 7.23% decrease; Edgar Zurcher sold 2,259 shares, a 21.7% decrease), while institutions own about 80.46% of the stock and insiders hold 17.00%.

Vanguard Group Inc. reduced its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 3.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,205,640 shares of the company's stock after selling 123,973 shares during the period. Vanguard Group Inc. owned approximately 10.40% of PriceSmart worth $393,236,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. First Horizon Corp acquired a new position in shares of PriceSmart during the 3rd quarter worth $30,000. Geneos Wealth Management Inc. raised its stake in shares of PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock worth $26,000 after buying an additional 252 shares during the last quarter. Mather Group LLC. acquired a new position in shares of PriceSmart during the 3rd quarter worth $39,000. AlphaQuest LLC raised its stake in shares of PriceSmart by 127.5% during the 3rd quarter. AlphaQuest LLC now owns 414 shares of the company's stock worth $50,000 after buying an additional 232 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of PriceSmart by 57.2% during the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company's stock worth $52,000 after buying an additional 179 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

PriceSmart Stock Up 2.1%

PSMT opened at $159.91 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 31.54 and a beta of 0.77. The business has a 50-day moving average of $152.72 and a two-hundred day moving average of $138.65. PriceSmart, Inc. has a 12 month low of $99.58 and a 12 month high of $165.46.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.57 by $0.05. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.48 billion. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The firm's revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 EPS.

Insider Activity

In other news, Director Gordon H. Hanson sold 635 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $157.60, for a total transaction of $100,076.00. Following the completion of the sale, the director owned 8,149 shares in the company, valued at approximately $1,284,282.40. The trade was a 7.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edgar Zurcher sold 2,259 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $155.17, for a total value of $350,529.03. Following the sale, the director owned 8,151 shares of the company's stock, valued at $1,264,790.67. The trade was a 21.70% decrease in their position. The SEC filing for this sale provides additional information. 17.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of PriceSmart from a "buy" rating to a "hold" rating in a research note on Sunday, January 11th. Weiss Ratings cut PriceSmart from a "buy (a-)" rating to a "buy (b)" rating in a report on Tuesday, April 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy".

PriceSmart Company 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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