Copeland Capital Management LLC Sells 37,251 Shares of PriceSmart, Inc. $PSMT

Copeland Capital Management LLC decreased its position in PriceSmart, Inc. (NASDAQ:PSMT) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 688,593 shares of the company’s stock after selling 37,251 shares during the quarter. PriceSmart accounts for approximately 1.7% of Copeland Capital Management LLC’s holdings, making the stock its 4th largest position. Copeland Capital Management LLC owned 2.24% of PriceSmart worth $83,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in PriceSmart during the second quarter worth $28,000. Geneos Wealth Management Inc. raised its holdings in shares of PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of PriceSmart by 52.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of PriceSmart by 57.2% in the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after buying an additional 179 shares during the period. Finally, USA Financial Formulas acquired a new position in shares of PriceSmart in the 2nd quarter valued at about $53,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of PriceSmart from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, December 22nd. Wall Street Zen lowered PriceSmart from a “buy” rating to a “hold” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has an average rating of “Strong Buy”.

PriceSmart Stock Performance

Shares of PSMT stock opened at $123.81 on Tuesday. PriceSmart, Inc. has a 12-month low of $81.25 and a 12-month high of $131.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.34 and a quick ratio of 0.57. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 25.69 and a beta of 0.76. The business has a 50 day simple moving average of $122.12 and a 200 day simple moving average of $115.15.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Thursday, October 30th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.08). PriceSmart had a net margin of 2.81% and a return on equity of 12.34%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm earned $0.94 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. On average, equities research analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current year.

Insider Activity at PriceSmart

In related news, EVP Paul Kovaleski sold 1,305 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $114.55, for a total value of $149,487.75. Following the completion of the sale, the executive vice president owned 43,109 shares of the company’s stock, valued at $4,938,135.95. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John D. Hildebrandt sold 10,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $115.10, for a total transaction of $1,151,000.00. Following the completion of the transaction, the chief operating officer owned 115,615 shares of the company’s stock, valued at $13,307,286.50. This represents a 7.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,706 shares of company stock valued at $1,467,980 in the last ninety days. Company insiders own 17.00% of the company’s stock.

PriceSmart Company Profile

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.