State of New Jersey Common Pension Fund D Sells 3,269 Shares of PriceSmart, Inc. $PSMT

State of New Jersey Common Pension Fund D trimmed its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 15.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,074 shares of the company’s stock after selling 3,269 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of PriceSmart worth $1,898,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its position in shares of PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 252 shares during the period. Ridgewood Investments LLC bought a new stake in shares of PriceSmart in the first quarter valued at approximately $42,000. Quarry LP bought a new stake in shares of PriceSmart in the first quarter valued at approximately $49,000. USA Financial Formulas bought a new stake in shares of PriceSmart in the second quarter valued at approximately $53,000. Finally, First Horizon Advisors Inc. lifted its position in PriceSmart by 24.3% in the first 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 period. 80.46% of the stock is owned by institutional investors.

PriceSmart Stock Down 6.5%

Shares of NASDAQ PSMT opened at $114.94 on Friday. The stock has a market cap of $3.53 billion, a PE ratio of 24.25 and a beta of 0.83. The business has a fifty day moving average of $117.35 and a two-hundred day moving average of $109.62. PriceSmart, Inc. has a 52-week low of $81.25 and a 52-week high of $125.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.50 and a current ratio of 1.28.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.08). The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.46%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 earnings per share. As a group, equities research analysts expect that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PriceSmart news, EVP Michael Mccleary sold 9,754 shares of PriceSmart stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $110.62, for a total transaction of $1,078,987.48. Following the completion of the transaction, the executive vice president directly owned 47,082 shares of the company’s stock, valued at approximately $5,208,210.84. This trade represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction on Monday, October 6th. The shares were sold at an average price of $122.82, for a total value of $67,551.00. Following the transaction, the executive vice president directly owned 80,548 shares of the company’s stock, valued at approximately $9,892,905.36. The trade was a 0.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen raised PriceSmart from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of PriceSmart in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

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.