PNC Financial Services Group Inc. Acquires 731 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

PNC Financial Services Group Inc. lifted its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 23.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,829 shares of the company’s stock after buying an additional 731 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PriceSmart were worth $336,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. raised its holdings in PriceSmart by 24.3% during the 1st quarter. First Horizon Advisors Inc. now owns 654 shares of the company’s stock worth $57,000 after purchasing an additional 128 shares during the last quarter. Choreo LLC raised its holdings in PriceSmart by 6.7% during the 1st quarter. Choreo LLC now owns 2,825 shares of the company’s stock worth $248,000 after purchasing an additional 178 shares during the last quarter. Mariner LLC raised its holdings in PriceSmart by 10.2% during the 4th quarter. Mariner LLC now owns 2,636 shares of the company’s stock worth $243,000 after purchasing an additional 245 shares during the last quarter. Bank of Montreal Can raised its holdings in PriceSmart by 7.9% during the 4th quarter. Bank of Montreal Can now owns 3,383 shares of the company’s stock worth $312,000 after purchasing an additional 249 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in PriceSmart by 536.7% during the 4th quarter. Sterling Capital Management LLC now owns 312 shares of the company’s stock worth $29,000 after purchasing an additional 263 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised PriceSmart from a “hold” rating to a “buy” rating in a report on Saturday, July 5th.

Insider Activity

In other news, EVP Francisco Velasco sold 550 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $106.31, for a total transaction of $58,470.50. Following the completion of the transaction, the executive vice president directly owned 77,908 shares in the company, valued at approximately $8,282,399.48. The trade was a 0.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.10% of the company’s stock.

PriceSmart Price Performance

PriceSmart stock opened at $108.95 on Friday. The firm has a market capitalization of $3.35 billion, a P/E ratio of 22.99 and a beta of 0.77. PriceSmart, Inc. has a 1 year low of $81.25 and a 1 year high of $113.92. The business has a 50-day moving average of $107.12 and a 200-day moving average of $98.62. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07.

PriceSmart (NASDAQ:PSMT) last posted its earnings results on Thursday, July 10th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. PriceSmart had a return on equity of 12.46% and a net margin of 2.82%. PriceSmart’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 earnings per share. On average, equities analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current year.

About PriceSmart

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.