Royal Bank of Canada Sells 10,683 Shares of PriceSmart, Inc. $PSMT

Royal Bank of Canada decreased its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 3.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 260,468 shares of the company’s stock after selling 10,683 shares during the quarter. Royal Bank of Canada owned 0.85% of PriceSmart worth $22,882,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Quarry LP bought a new position in shares of PriceSmart during the 1st quarter worth about $49,000. Nomura Holdings Inc. bought a new position in shares of PriceSmart during the 1st quarter worth about $450,000. Vident Advisory LLC increased its holdings in shares of PriceSmart by 26.3% during the 1st quarter. Vident Advisory LLC now owns 2,915 shares of the company’s stock worth $256,000 after purchasing an additional 607 shares during the period. OMERS ADMINISTRATION Corp increased its holdings in shares of PriceSmart by 211.5% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 8,100 shares of the company’s stock worth $712,000 after purchasing an additional 5,500 shares during the period. Finally, Comerica Bank increased its holdings in shares of PriceSmart by 59.0% during the 1st quarter. Comerica Bank now owns 18,370 shares of the company’s stock worth $1,614,000 after purchasing an additional 6,817 shares during the period. Institutional investors own 80.46% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of PriceSmart from a “hold” rating to a “buy” rating in a report on Friday.

Insider Buying and Selling

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

PriceSmart Stock Performance

NASDAQ PSMT opened at $111.98 on Tuesday. The stock has a market cap of $3.44 billion, a P/E ratio of 23.62 and a beta of 0.79. The company’s 50-day simple moving average is $108.40 and its 200 day simple moving average is $100.68. PriceSmart, Inc. has a twelve month low of $81.25 and a twelve month high of $114.01. The company has a quick ratio of 0.50, a current ratio of 1.28 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 for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.46%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 EPS. As a group, research analysts forecast that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal 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.