Principal Financial Group Inc. Lowers Stock Holdings in PriceSmart, Inc. $PSMT

Principal Financial Group Inc. lowered its position in PriceSmart, Inc. (NASDAQ:PSMT) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,840 shares of the company’s stock after selling 3,613 shares during the quarter. Principal Financial Group Inc. owned approximately 0.44% of PriceSmart worth $20,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSMT. Fifth Third Bancorp raised its holdings in PriceSmart by 5,913.3% in the first quarter. Fifth Third Bancorp now owns 28,984 shares of the company’s stock worth $4,362,000 after purchasing an additional 28,502 shares in the last quarter. Abel Hall LLC grew its position in shares of PriceSmart by 40.7% in the 1st quarter. Abel Hall LLC now owns 3,613 shares of the company’s stock worth $544,000 after buying an additional 1,046 shares during the last quarter. Praxis Investment Management Inc. bought a new position in shares of PriceSmart during the 1st quarter worth approximately $233,000. QRG Capital Management Inc. raised its stake in shares of PriceSmart by 15.6% during the 1st quarter. QRG Capital Management Inc. now owns 4,100 shares of the company’s stock worth $617,000 after acquiring an additional 552 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in PriceSmart by 51.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 8,180 shares of the company’s stock valued at $1,231,000 after acquiring an additional 2,779 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Insider Activity at PriceSmart

In other PriceSmart news, Director Edgar Zurcher sold 2,259 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $155.17, for a total transaction of $350,529.03. Following the transaction, the director owned 8,151 shares in the company, valued at approximately $1,264,790.67. This represents a 21.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gordon H. Hanson sold 635 shares of PriceSmart stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total transaction of $100,076.00. Following the sale, the director owned 8,149 shares of the company’s stock, valued at $1,284,282.40. The trade was a 7.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,032 shares of company stock valued at $660,982 over the last 90 days. Company insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

PriceSmart Trading Up 3.4%

PriceSmart stock opened at $186.49 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. The stock has a market cap of $5.76 billion, a PE ratio of 35.79 and a beta of 0.76. The stock has a 50-day moving average of $179.97 and a two-hundred day moving average of $160.00. PriceSmart, Inc. has a one year low of $104.11 and a one year high of $199.84.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share 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 business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. PriceSmart’s revenue was up 12.5% on a year-over-year basis.

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.