35,813 Shares in PriceSmart, Inc. $PSMT Acquired by Truist Financial Corp

Truist Financial Corp purchased a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 35,813 shares of the company’s stock, valued at approximately $4,393,000.

Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in PriceSmart by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,258,234 shares of the company’s stock worth $152,489,000 after buying an additional 10,537 shares in the last quarter. State Street Corp lifted its holdings in PriceSmart by 2.4% during the 2nd quarter. State Street Corp now owns 1,045,998 shares of the company’s stock worth $109,872,000 after buying an additional 24,512 shares in the last quarter. Victory Capital Management Inc. lifted its holdings 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 buying an additional 175,806 shares in the last quarter. Invesco Ltd. lifted its holdings in PriceSmart by 13.3% during the 3rd quarter. Invesco Ltd. now owns 624,985 shares of the company’s stock worth $75,742,000 after buying an additional 73,419 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in PriceSmart by 24.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 489,201 shares of the company’s stock worth $59,286,000 after buying an additional 97,598 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

PriceSmart Stock Performance

PSMT stock opened at $158.26 on Monday. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10. PriceSmart, Inc. has a twelve month low of $99.58 and a twelve month high of $165.46. The business’s fifty day moving average is $152.74 and its 200-day moving average is $138.90. The company has a market cap of $4.89 billion, a P/E ratio of 31.22 and a beta of 0.77.

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

Insiders Place Their Bets

In related news, Director Edgar Zurcher sold 2,259 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $155.17, for a total value of $350,529.03. Following the completion of the sale, the director owned 8,151 shares in the company, valued at $1,264,790.67. This represents a 21.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gordon H. Hanson sold 635 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were 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 of the company’s stock, valued at approximately $1,284,282.40. This represents a 7.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSMT. Weiss Ratings raised PriceSmart from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday. Wall Street Zen downgraded PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus 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.