Kendall Capital Management Buys Shares of 10,535 PriceSmart, Inc. $PSMT

Kendall Capital Management bought a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,535 shares of the company’s stock, valued at approximately $2,058,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bell Investment Advisors Inc acquired a new stake in shares of PriceSmart in the 2nd quarter valued at approximately $40,000. UMB Bank n.a. increased its position in PriceSmart by 76.0% during the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. CENTRAL TRUST Co bought a new position in PriceSmart in the 4th quarter valued at approximately $32,000. Geneos Wealth Management Inc. lifted its stake in PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 252 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in PriceSmart in the 2nd quarter valued at approximately $67,000. Institutional investors own 80.46% of the company’s stock.

Wall Street Analysts Forecast Growth

PSMT has been the topic of a number of research reports. Weiss Ratings cut shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $198.00 price target on shares of PriceSmart in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $198.00.

Insider Buying and Selling at PriceSmart

In other news, Director Beatriz V. Infante sold 800 shares of the firm’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $195.98, for a total transaction of $156,784.00. Following the completion of the transaction, the director owned 11,210 shares of the company’s stock, valued at approximately $2,196,935.80. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $197.38, for a total transaction of $690,632.62. Following the transaction, the director directly owned 32,150 shares of the company’s stock, valued at $6,345,767. The trade was a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 7,737 shares of company stock worth $1,506,176. 17.00% of the stock is currently owned by company insiders.

PriceSmart Stock Performance

Shares of PSMT stock opened at $172.87 on Friday. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 33.18 and a beta of 0.76. The company has a current ratio of 1.28, a quick ratio of 0.53 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $186.27 and its 200-day moving average price is $167.19. PriceSmart, Inc. has a 12 month low of $105.46 and a 12 month high of $199.84.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.04). PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company earned $1.14 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year.

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.