Alps Advisors Inc. Lowers Stock Holdings in PriceSmart, Inc. $PSMT

Alps Advisors Inc. reduced its position in PriceSmart, Inc. (NASDAQ:PSMT) by 56.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,906 shares of the company’s stock after selling 10,322 shares during the quarter. Alps Advisors Inc.’s holdings in PriceSmart were worth $958,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after buying an additional 252 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of PriceSmart in the 2nd quarter valued at $28,000. First Horizon Corp bought a new position in shares of PriceSmart during the 3rd quarter valued at $30,000. Steward Partners Investment Advisory LLC grew its holdings in shares of PriceSmart by 52.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in PriceSmart in the 3rd quarter worth $39,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Stock Up 0.4%

Shares of PriceSmart stock opened at $155.12 on Thursday. The company’s fifty day simple moving average is $134.89 and its two-hundred day simple moving average is $122.74. PriceSmart, Inc. has a 12-month low of $81.25 and a 12-month high of $157.86. The company has a current ratio of 1.33, a quick ratio of 0.55 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.78 billion, a P/E ratio of 31.66 and a beta of 0.75.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share (EPS) 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 company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. PriceSmart’s quarterly revenue was up 9.9% on a year-over-year basis. Research analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current year.

PriceSmart Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a $0.70 dividend. The ex-dividend date is Monday, August 17th. This represents a yield of 89.0%. PriceSmart’s dividend payout ratio is 25.71%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings downgraded PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Insider Transactions at PriceSmart

In related news, Director Leon C. Janks sold 3,000 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $137.29, for a total transaction of $411,870.00. Following the sale, 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 legal filing with the SEC, which is available at this link. Also, EVP Paul Kovaleski sold 4,255 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $136.86, for a total transaction of $582,339.30. Following the transaction, the executive vice president directly owned 38,854 shares of the company’s stock, valued at $5,317,558.44. This represents a 9.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 17,976 shares of company stock worth $2,432,539. Corporate insiders own 17.00% of the company’s stock.

PriceSmart 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.