Vontobel Holding Ltd. Invests $18.31 Million in PriceSmart, Inc. $PSMT

Key Points

• Vontobel Holding Ltd. has invested approximately $18.31 million in PriceSmart, acquiring 174,345 shares, representing about 0.57% of the company's total stock.
• Despite reporting a net margin of 2.82% and a revenue increase of 7.1% year-over-year, PriceSmart's quarterly earnings fell short of analysts' expectations.
• The stock of PriceSmart has seen fluctuations, with a current market cap of $3.64 billion and recent trading at $118.53, down 2.3% on the latest trading day.

Vontobel Holding Ltd. purchased a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 174,345 shares of the company's stock, valued at approximately $18,313,000. Vontobel Holding Ltd. owned approximately 0.57% of PriceSmart as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its position in shares of PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock worth $26,000 after purchasing an additional 252 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of PriceSmart during the first quarter worth about $42,000. USA Financial Formulas acquired a new stake in shares of PriceSmart during the second quarter worth about $53,000. Quarry LP purchased a new stake in shares of PriceSmart during the first quarter worth approximately $49,000. Finally, Fifth Third Bancorp increased its stake in shares of PriceSmart by 119.7% during the first quarter. Fifth Third Bancorp now owns 635 shares of the company's stock worth $56,000 after buying an additional 346 shares during the period. Institutional investors and hedge funds own 80.46% of the company's stock.

PriceSmart Stock Down 2.3%

PSMT stock opened at $118.53 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. PriceSmart, Inc. has a twelve month low of $81.25 and a twelve month high of $124.59. The company's 50 day moving average is $113.69 and its two-hundred day moving average is $105.48. The stock has a market cap of $3.64 billion, a P/E ratio of 25.01 and a beta of 0.83.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The company reported $1.14 earnings per share 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 company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business posted $1.08 EPS. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts expect that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings restated a "buy (b)" rating on shares of PriceSmart in a research note on Wednesday. Wall Street Zen lowered shares of PriceSmart from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy".

Insider Buying and Selling

In other PriceSmart news, EVP Francisco Velasco sold 550 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $122.82, for a total transaction of $67,551.00. Following the sale, the executive vice president owned 80,548 shares of the company's stock, valued at approximately $9,892,905.36. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Mccleary sold 9,754 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president owned 47,082 shares in the company, valued at approximately $5,208,210.84. This trade represents a 17.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.10% of the stock is currently owned by company insiders.

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.

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