Royce & Associates LP Trims Stock Position in PriceSmart, Inc. $PSMT

Royce & Associates LP trimmed its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 26.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,402 shares of the company’s stock after selling 4,789 shares during the quarter. Royce & Associates LP’s holdings in PriceSmart were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of PriceSmart by 1.8% during the second quarter. Geode Capital Management LLC now owns 740,720 shares of the company’s stock worth $77,812,000 after purchasing an additional 13,119 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in PriceSmart during the 2nd quarter worth $638,000. Pertento Partners LLP acquired a new stake in shares of PriceSmart in the 2nd quarter worth $42,224,000. Boston Trust Walden Corp acquired a new stake in shares of PriceSmart in the 3rd quarter worth $21,915,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of PriceSmart in the third quarter valued at about $2,222,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

PriceSmart Stock Down 4.2%

Shares of NASDAQ PSMT opened at $146.64 on Friday. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 29.93 and a beta of 0.73. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $158.01. The firm has a 50-day moving average price of $143.59 and a 200 day moving average price of $127.49. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11.

PriceSmart (NASDAQ:PSMT) last issued its earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share 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 company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

PriceSmart Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.70 dividend. This represents a yield of 89.0%. The ex-dividend date of this dividend is Monday, August 17th. PriceSmart’s dividend payout ratio (DPR) is presently 28.57%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PSMT. Wall Street Zen cut shares of PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Weiss Ratings cut PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, PriceSmart has a consensus rating of “Buy”.

Insider Transactions at PriceSmart

In other news, COO John D. Hildebrandt sold 7,421 shares of PriceSmart stock in a transaction on Monday, January 12th. The stock was sold at an average price of $136.88, for a total transaction of $1,015,786.48. Following the completion of the transaction, the chief operating officer owned 108,194 shares of the company’s stock, valued at $14,809,594.72. The trade was a 6.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Leon C. Janks sold 3,000 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $137.29, for a total transaction of $411,870.00. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,671 shares of company stock valued at $2,283,051. Company 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.