Wellington Management Group LLP Makes New $15.20 Million Investment in PriceSmart, Inc. $PSMT

Key Points

• Wellington Management Group acquired 77,797 PriceSmart shares worth approximately $15.2 million, representing a 0.25% stake. Institutional investors collectively own 80.46% of the company.
• PriceSmart reported quarterly revenue of $1.48 billion, up 12.5% year over year and above estimates, though earnings per share of $1.28 fell short of the $1.32 consensus.
• Analysts maintain a “Buy” consensus with an average price target of $198, compared with the stock’s reported opening price of $174.10.

Wellington Management Group LLP purchased a new stake in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 77,797 shares of the company's stock, valued at approximately $15,197,000. Wellington Management Group LLP owned 0.25% of PriceSmart at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in PriceSmart in the 2nd quarter valued at approximately $814,722,000. State Street Corp grew its stake in shares of PriceSmart by 2.4% in the second quarter. State Street Corp now owns 1,045,998 shares of the company's stock worth $109,872,000 after purchasing an additional 24,512 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of PriceSmart by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 763,261 shares of the company's stock worth $93,640,000 after purchasing an additional 7,095 shares in the last quarter. Invesco Ltd. increased its holdings in shares of PriceSmart by 13.3% during the third quarter. Invesco Ltd. now owns 624,985 shares of the company's stock valued at $75,742,000 after purchasing an additional 73,419 shares during the period. Finally, Morgan Stanley raised its stake in shares of PriceSmart by 1.7% during the fourth quarter. Morgan Stanley now owns 495,799 shares of the company's stock valued at $60,820,000 after purchasing an additional 8,428 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

PriceSmart Stock Performance

Shares of PriceSmart stock opened at $174.10 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 33.42 and a beta of 0.76. The business has a fifty day simple moving average of $183.45 and a 200-day simple moving average of $168.89. PriceSmart, Inc. has a fifty-two week low of $108.45 and a fifty-two week high of $199.84.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.04). PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. PriceSmart's revenue was up 12.5% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $198.00 price objective on shares of PriceSmart in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of PriceSmart in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $198.00.

Insider Transactions at PriceSmart

In other news, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $177.87, for a total value of $60,120.06. Following the transaction, the executive vice president owned 75,321 shares of the company's stock, valued at $13,397,346.27. The trade was a 0.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Beatriz Infante sold 800 shares of the business's stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $195.98, for a total transaction of $156,784.00. Following the completion of the sale, the director owned 11,210 shares in the company, valued at $2,196,935.80. The trade was a 6.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,737 shares of company stock valued at $1,506,176 in the last quarter. Insiders own 17.00% of the company's stock.

PriceSmart 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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