American Century Companies Inc. Cuts Position in PriceSmart, Inc. $PSMT

American Century Companies Inc. lowered its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,314,262 shares of the company’s stock after selling 87,444 shares during the period. American Century Companies Inc. owned 4.25% of PriceSmart worth $159,276,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSMT. Geode Capital Management LLC increased its position in PriceSmart by 1.8% during the second quarter. Geode Capital Management LLC now owns 740,720 shares of the company’s stock worth $77,812,000 after buying an additional 13,119 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of PriceSmart in the 2nd quarter valued at approximately $638,000. Pertento Partners LLP acquired a new position in shares of PriceSmart in the second quarter valued at approximately $42,224,000. Boston Trust Walden Corp purchased a new stake in shares of PriceSmart in the third quarter valued at about $21,915,000. Finally, Vest Financial LLC raised its position in PriceSmart by 17.8% in the third quarter. Vest Financial LLC now owns 53,647 shares of the company’s stock worth $6,501,000 after acquiring an additional 8,095 shares in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Price Performance

Shares of PSMT stock opened at $154.62 on Monday. The firm has a fifty day simple moving average of $141.36 and a 200-day simple moving average of $126.56. The company has a market capitalization of $4.77 billion, a PE ratio of 31.56 and a beta of 0.73. PriceSmart, Inc. has a twelve month low of $81.25 and a twelve month high of $157.87. The company has a current ratio of 1.33, a quick ratio of 0.55 and a debt-to-equity ratio of 0.11.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. PriceSmart had a net margin of 2.79% and a return on equity of 12.20%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Equities research analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.70 dividend. This represents a yield of 89.0%. The ex-dividend date is Monday, August 17th. PriceSmart’s dividend payout ratio (DPR) is 28.57%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings lowered PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, January 12th. Wall Street Zen lowered shares of PriceSmart from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, PriceSmart has an average rating of “Buy”.

Insider Transactions at PriceSmart

In other PriceSmart news, Director Leon C. Janks sold 3,000 shares of PriceSmart stock in a transaction on Monday, January 12th. The shares were sold at an average price of $137.29, for a total value of $411,870.00. Following the completion of the transaction, the director owned 30,734 shares of the company’s stock, valued at $4,219,470.86. The trade was a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Beatriz V. Infante sold 1,995 shares of PriceSmart stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $136.87, for a total value of $273,055.65. Following the completion of the transaction, the director owned 10,879 shares of the company’s stock, valued at approximately $1,489,008.73. The trade was a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,671 shares of company stock valued at $2,283,051. Company insiders own 17.00% of the company’s stock.

About PriceSmart

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.