Fisher Asset Management LLC Sells 3,977 Shares of PriceSmart, Inc. $PSMT

Fisher Asset Management LLC lessened its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,554 shares of the company’s stock after selling 3,977 shares during the period. Fisher Asset Management LLC owned approximately 0.08% of PriceSmart worth $2,855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Corp bought a new stake in shares of PriceSmart in the 3rd quarter valued at approximately $30,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in PriceSmart in the 2nd quarter valued at $28,000. Geneos Wealth Management Inc. grew its position in 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. Mather Group LLC. acquired a new position in PriceSmart during the third quarter worth $39,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of PriceSmart by 52.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the period. Institutional investors own 80.46% of the company’s stock.

Insider Activity at PriceSmart

In related news, EVP Paul Kovaleski sold 4,255 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.86, for a total value of $582,339.30. Following the transaction, the executive vice president owned 38,854 shares in the company, valued at $5,317,558.44. This trade represents a 9.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Beatriz V. Infante sold 1,995 shares of PriceSmart stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.87, for a total value of $273,055.65. Following the completion of the sale, 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 90 days, insiders have sold 16,671 shares of company stock worth $2,283,051. Company insiders own 17.00% of the company’s stock.

PriceSmart Stock Performance

PriceSmart stock opened at $146.64 on Friday. The stock has a 50-day simple moving average of $143.59 and a 200 day simple moving average of $127.49. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 29.93 and a beta of 0.73. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11. PriceSmart, Inc. has a 12-month low of $81.25 and a 12-month high of $158.01.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Wednesday, January 7th. The company reported $1.29 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company posted $1.21 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, research analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Dividend Announcement

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

Analysts Set New Price Targets

PSMT has been the topic of several analyst reports. Wall Street Zen lowered shares of PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Weiss Ratings cut shares of PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, PriceSmart has an average rating of “Buy”.

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.