Allspring Global Investments Holdings LLC Sells 5,918 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Allspring Global Investments Holdings LLC trimmed its position in PriceSmart, Inc. (NASDAQ:PSMT) by 77.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,755 shares of the company’s stock after selling 5,918 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PriceSmart were worth $133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of PriceSmart in the 3rd quarter worth $47,000. Exchange Traded Concepts LLC grew its position in PriceSmart by 93.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,278 shares of the company’s stock worth $95,000 after purchasing an additional 616 shares during the last quarter. CI Investments Inc. acquired a new position in PriceSmart during the 3rd quarter valued at approximately $158,000. Watershed Asset Management L.L.C. purchased a new position in shares of PriceSmart in the third quarter worth $268,000. Finally, Inspire Investing LLC acquired a new stake in shares of PriceSmart during the third quarter worth $316,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSMT has been the topic of several research reports. Jefferies Financial Group upped their target price on PriceSmart from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. TheStreet raised PriceSmart from a “c+” rating to a “b-” rating in a report on Tuesday, January 30th. Finally, StockNews.com downgraded PriceSmart from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 13th.

Insider Activity

In related news, Director Edgar Zurcher sold 1,075 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $79.08, for a total transaction of $85,011.00. Following the completion of the sale, the director now directly owns 8,822 shares in the company, valued at $697,643.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Gordon H. Hanson sold 937 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $79.86, for a total transaction of $74,828.82. Following the completion of the transaction, the director now directly owns 7,969 shares in the company, valued at approximately $636,404.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edgar Zurcher sold 1,075 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $79.08, for a total transaction of $85,011.00. Following the completion of the transaction, the director now directly owns 8,822 shares in the company, valued at approximately $697,643.76. The disclosure for this sale can be found here. Corporate insiders own 18.60% of the company’s stock.

PriceSmart Stock Up 1.6 %

PSMT stock opened at $81.49 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.49 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average of $81.95 and a two-hundred day moving average of $76.07. PriceSmart, Inc. has a 12 month low of $61.82 and a 12 month high of $86.90. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 20.47 and a beta of 0.92.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, April 10th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. PriceSmart had a return on equity of 11.85% and a net margin of 2.62%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, analysts forecast that PriceSmart, Inc. will post 4.64 earnings per share for the current fiscal year.

PriceSmart Dividend Announcement

The business also recently declared a None dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th will be issued a dividend of $1.00 per share. The ex-dividend date is Thursday, April 18th. PriceSmart’s dividend payout ratio is presently 29.15%.

PriceSmart Company Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.