Bank of New York Mellon Corp Has $23.89 Million Holdings in PriceSmart, Inc. $PSMT

Bank of New York Mellon Corp trimmed its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,475 shares of the company’s stock after selling 1,120 shares during the period. Bank of New York Mellon Corp owned 0.74% of PriceSmart worth $23,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Burney Co. increased its stake in PriceSmart by 4.2% during the 2nd quarter. Burney Co. now owns 96,888 shares of the company’s stock worth $10,177,000 after acquiring an additional 3,912 shares during the period. Atria Investments Inc bought a new position in shares of PriceSmart in the second quarter worth $218,000. Keybank National Association OH bought a new position in shares of PriceSmart in the second quarter worth $239,000. Y Intercept Hong Kong Ltd acquired a new position in PriceSmart in the second quarter valued at about $680,000. Finally, Linden Thomas Advisory Services LLC bought a new stake in PriceSmart during the second quarter worth about $821,000. 80.46% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO John D. Hildebrandt sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $115.10, for a total transaction of $1,151,000.00. Following the sale, the chief operating officer owned 115,615 shares of the company’s stock, valued at $13,307,286.50. This trade represents a 7.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael Mccleary sold 9,754 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $110.62, for a total value of $1,078,987.48. Following the sale, the executive vice president owned 47,082 shares in the company, valued at $5,208,210.84. This represents a 17.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,304 shares of company stock worth $2,297,538. Insiders own 17.10% of the company’s stock.

PriceSmart Trading Up 0.5%

Shares of PriceSmart stock opened at $116.70 on Friday. The firm has a market capitalization of $3.60 billion, a PE ratio of 24.62 and a beta of 0.84. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $119.01 and its 200 day moving average is $110.99. PriceSmart, Inc. has a 1 year low of $81.25 and a 1 year high of $125.48.

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

Analyst Ratings Changes

PSMT has been the topic of several recent analyst reports. Weiss Ratings raised shares of PriceSmart from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, November 10th. Wall Street Zen raised shares of PriceSmart from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

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.