JPMorgan Chase & Co. Has $6.05 Million Holdings in PriceSmart, Inc. $PSMT

JPMorgan Chase & Co. decreased its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 21.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,888 shares of the company’s stock after selling 13,522 shares during the quarter. JPMorgan Chase & Co. owned about 0.16% of PriceSmart worth $6,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PSMT. Pertento Partners LLP purchased a new position in shares of PriceSmart during the second quarter valued at approximately $42,224,000. Progeny 3 Inc. purchased a new stake in PriceSmart in the 3rd quarter valued at $27,825,000. Invesco Ltd. raised its position in PriceSmart by 54.7% in the 2nd quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock valued at $57,936,000 after buying an additional 194,980 shares during the last quarter. Boston Trust Walden Corp bought a new position in PriceSmart during the 3rd quarter valued at $21,915,000. Finally, Victory Capital Management Inc. lifted its stake in PriceSmart by 37.0% during the 3rd 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 in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PriceSmart

In other PriceSmart news, Director Beatriz V. Infante sold 1,995 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $136.87, for a total value 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 trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Leon C. Janks sold 3,000 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $137.29, for a total value of $411,870.00. Following the completion of the sale, the director owned 30,734 shares in the company, valued at approximately $4,219,470.86. The trade was a 8.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 16,671 shares of company stock worth $2,283,051. 17.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PSMT has been the subject of several recent analyst reports. Wall Street Zen lowered shares of PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings raised shares of PriceSmart from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

PriceSmart Trading Up 1.6%

Shares of PriceSmart stock opened at $150.50 on Wednesday. The firm has a market cap of $4.64 billion, a PE ratio of 30.71 and a beta of 0.73. PriceSmart, Inc. has a 1 year low of $81.25 and a 1 year high of $158.01. 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 fifty day moving average price of $149.10 and a 200-day moving average price of $132.40.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned $1.21 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Equities research analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current year.

PriceSmart Announces Dividend

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

About PriceSmart

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.