Cinctive Capital Management LP Raises Stock Position in PriceSmart, Inc. $PSMT

Cinctive Capital Management LP boosted its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,799 shares of the company’s stock after purchasing an additional 4,530 shares during the period. Cinctive Capital Management LP’s holdings in PriceSmart were worth $14,034,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in shares of PriceSmart by 7.7% during the 2nd quarter. American Century Companies Inc. now owns 1,401,706 shares of the company’s stock valued at $147,236,000 after buying an additional 100,785 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of PriceSmart by 0.8% in 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 during the last quarter. State Street Corp grew its holdings in shares of PriceSmart by 2.4% in the second quarter. State Street Corp now owns 1,045,998 shares of the company’s stock worth $109,872,000 after acquiring an additional 24,512 shares during the period. Geode Capital Management LLC grew its holdings in shares of PriceSmart by 1.8% in the second quarter. Geode Capital Management LLC now owns 740,720 shares of the company’s stock worth $77,812,000 after acquiring an additional 13,119 shares during the period. Finally, Victory Capital Management Inc. increased its position in PriceSmart by 37.0% during the third quarter. Victory Capital Management Inc. now owns 651,499 shares of the company’s stock valued at $78,955,000 after acquiring an additional 175,806 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

PriceSmart Trading Up 1.3%

Shares of PriceSmart stock opened at $148.77 on Friday. PriceSmart, Inc. has a 1-year low of $81.25 and a 1-year high of $158.01. The company’s fifty day simple moving average is $146.45 and its 200-day simple moving average is $129.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.33 and a quick ratio of 0.55. The stock has a market capitalization of $4.59 billion, a PE ratio of 30.36 and a beta of 0.73.

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

PriceSmart Dividend Announcement

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

Insider Buying and Selling

In related news, Director Leon C. Janks sold 3,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 30,734 shares in the company, valued at approximately $4,219,470.86. The trade was a 8.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Beatriz V. Infante sold 1,995 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $136.87, for a total transaction of $273,055.65. Following the completion of the sale, the director directly owned 10,879 shares of the company’s stock, valued at $1,489,008.73. This represents a 15.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 16,671 shares of company stock worth $2,283,051. Corporate insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PSMT shares. Wall Street Zen downgraded PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Weiss Ratings upgraded PriceSmart from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, PriceSmart has a consensus rating of “Strong Buy”.

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.