Foster & Motley Inc. Buys New Stake in PriceSmart, Inc. $PSMT

Foster & Motley Inc. bought a new stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) during the second quarter, HoldingsChannel reports. The fund bought 7,550 shares of the company’s stock, valued at approximately $1,475,000.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of PriceSmart in the second quarter worth $814,722,000. State Street Corp boosted its stake in shares of PriceSmart by 2.4% during the second quarter. State Street Corp now owns 1,045,998 shares of the company’s stock valued at $109,872,000 after acquiring an additional 24,512 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of PriceSmart by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 763,261 shares of the company’s stock valued at $93,640,000 after acquiring an additional 7,095 shares during the last quarter. Invesco Ltd. increased its position in PriceSmart by 13.3% during the 3rd quarter. Invesco Ltd. now owns 624,985 shares of the company’s stock worth $75,742,000 after purchasing an additional 73,419 shares in the last quarter. Finally, Morgan Stanley increased its position in PriceSmart by 1.7% during the 4th quarter. Morgan Stanley now owns 495,799 shares of the company’s stock worth $60,820,000 after purchasing an additional 8,428 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Transactions at PriceSmart

In related news, Director Beatriz V. Infante sold 800 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $195.98, for a total value of $156,784.00. Following the completion of the sale, the director directly owned 11,210 shares in the company, valued at approximately $2,196,935.80. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was 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. This trade represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,737 shares of company stock worth $1,506,176 in the last three months. Company insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PSMT has been the subject of several analyst reports. Weiss Ratings downgraded 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 set a $198.00 price target on shares of PriceSmart in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $198.00.

PriceSmart Stock Performance

PriceSmart stock opened at $175.61 on Thursday. The stock has a fifty day moving average price of $186.67 and a 200 day moving average price of $166.96. PriceSmart, Inc. has a 52 week low of $105.46 and a 52 week high of $199.84. The firm has a market capitalization of $5.42 billion, a P/E ratio of 33.71 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.

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

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.