Federated Hermes Inc. Sells 4,455 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Federated Hermes Inc. cut its position in PriceSmart, Inc. (NASDAQ:PSMT) by 14.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,622 shares of the company’s stock after selling 4,455 shares during the period. Federated Hermes Inc.’s holdings in PriceSmart were worth $1,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PSMT. Headlands Technologies LLC bought a new stake in shares of PriceSmart in the third quarter valued at $47,000. Exchange Traded Concepts LLC grew its position in shares of PriceSmart by 93.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,278 shares of the company’s stock valued at $95,000 after purchasing an additional 616 shares in the last quarter. CI Investments Inc. purchased a new position in shares of PriceSmart in the third quarter valued at $158,000. Watershed Asset Management L.L.C. purchased a new position in shares of PriceSmart in the third quarter valued at $268,000. Finally, Cerity Partners LLC purchased a new position in shares of PriceSmart in the fourth quarter valued at $272,000. 80.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Gordon H. Hanson sold 937 shares of the business’s stock in a transaction dated 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 $636,404.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Gordon H. Hanson sold 937 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $79.86, for a total value 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 Securities & Exchange Commission, which is available 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 stock was sold at an average price of $79.08, for a total value of $85,011.00. Following the completion of the transaction, the director now owns 8,822 shares of the company’s stock, valued at $697,643.76. The disclosure for this sale can be found here. 18.60% of the stock is owned by company insiders.

PriceSmart Price Performance

PriceSmart stock opened at $81.49 on Monday. PriceSmart, Inc. has a 52 week low of $61.82 and a 52 week high of $86.90. The business has a 50-day simple moving average of $81.95 and a 200 day simple moving average of $76.07. The company has a quick ratio of 0.49, a current ratio of 1.20 and a debt-to-equity ratio of 0.09. The stock 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 earnings results on Wednesday, April 10th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. PriceSmart had a return on equity of 11.85% and a net margin of 2.62%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. On average, research analysts forecast that PriceSmart, Inc. will post 4.64 earnings per share for the current fiscal year.

PriceSmart Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PSMT shares. StockNews.com cut PriceSmart from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 13th. TheStreet upgraded PriceSmart from a “c+” rating to a “b-” rating in a research report on Tuesday, January 30th. Finally, Jefferies Financial Group lifted their price target on PriceSmart from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th.

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.