PriceSmart, Inc. $PSMT Shares Sold by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. decreased its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,705,752 shares of the company’s stock after selling 32,203 shares during the quarter. PriceSmart makes up about 9.7% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 4th largest position. Black Creek Investment Management Inc. owned approximately 5.52% of PriceSmart worth $206,720,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Managed Asset Portfolios LLC lifted its stake in shares of PriceSmart by 0.6% during the third quarter. Managed Asset Portfolios LLC now owns 150,622 shares of the company’s stock valued at $18,254,000 after acquiring an additional 969 shares during the period. Victory Capital Management Inc. boosted its stake in PriceSmart by 37.0% during the 3rd quarter. Victory Capital Management Inc. now owns 651,499 shares of the company’s stock worth $78,955,000 after acquiring an additional 175,806 shares during the last quarter. TD Asset Management Inc acquired a new position in shares of PriceSmart in the 3rd quarter valued at $696,000. AXQ Capital LP acquired a new position in PriceSmart in the third quarter valued at about $202,000. Finally, State of New Jersey Common Pension Fund D grew its position in shares of PriceSmart by 9.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 19,779 shares of the company’s stock valued at $2,397,000 after purchasing an additional 1,705 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

PriceSmart Stock Down 3.6%

Shares of NASDAQ PSMT opened at $151.75 on Wednesday. The stock’s fifty day moving average is $142.56 and its 200 day moving average is $127.18. The stock has a market capitalization of $4.68 billion, a P/E ratio of 30.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.55 and a current ratio of 1.33. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $158.01.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. PriceSmart had a net margin of 2.79% and a return on equity of 12.20%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business posted $1.21 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Sell-side analysts forecast that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a yield of 89.0%. PriceSmart’s payout ratio is presently 28.57%.

Analysts Set New Price Targets

PSMT has been the subject of a number of research reports. Wall Street Zen downgraded PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Weiss Ratings downgraded PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Insider Activity at PriceSmart

In related news, EVP Paul Kovaleski sold 4,255 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $136.86, for a total value of $582,339.30. Following the completion of the transaction, the executive vice president owned 38,854 shares of the company’s stock, valued at $5,317,558.44. This represents a 9.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leon C. Janks sold 3,000 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $137.29, for a total value of $411,870.00. Following the sale, the director owned 30,734 shares in the company, valued at $4,219,470.86. This represents a 8.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,671 shares of company stock worth $2,283,051 in the last 90 days. 17.00% of the stock is currently owned by company insiders.

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.