PriceSmart, Inc. (NASDAQ:PSMT) Shares Sold by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. decreased its position in PriceSmart, Inc. (NASDAQ:PSMT) by 48.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,457,697 shares of the company’s stock after selling 1,361,230 shares during the period. PriceSmart comprises 1.1% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 24th biggest position. EdgePoint Investment Group Inc. owned approximately 4.75% of PriceSmart worth $134,356,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Barclays PLC raised its holdings in PriceSmart by 227.3% in the 3rd quarter. Barclays PLC now owns 46,710 shares of the company’s stock worth $4,287,000 after purchasing an additional 32,438 shares during the period. Burney Co. acquired a new position in shares of PriceSmart during the 4th quarter worth approximately $5,030,000. Harbor Capital Advisors Inc. lifted its position in shares of PriceSmart by 47.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 18,195 shares of the company’s stock valued at $1,677,000 after buying an additional 5,818 shares in the last quarter. JPMorgan Chase & Co. grew its stake in PriceSmart by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 42,955 shares of the company’s stock valued at $3,942,000 after acquiring an additional 3,406 shares during the period. Finally, Foster & Motley Inc. increased its holdings in PriceSmart by 40.9% in the 4th quarter. Foster & Motley Inc. now owns 18,299 shares of the company’s stock worth $1,687,000 after acquiring an additional 5,315 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Paul Kovaleski sold 896 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $100.85, for a total transaction of $90,361.60. Following the completion of the sale, the executive vice president now owns 43,039 shares in the company, valued at $4,340,483.15. This trade represents a 2.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Fisher sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $95.00, for a total value of $161,500.00. Following the completion of the transaction, the director now owns 16,911 shares in the company, valued at $1,606,545. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,346 shares of company stock valued at $325,723 in the last three months. 17.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of PriceSmart from a “hold” rating to a “buy” rating in a report on Monday, March 10th.

PriceSmart Price Performance

NASDAQ:PSMT opened at $105.80 on Friday. The stock has a 50 day moving average of $90.78 and a two-hundred day moving average of $90.91. PriceSmart, Inc. has a 12 month low of $77.51 and a 12 month high of $106.76. The firm has a market cap of $3.25 billion, a P/E ratio of 23.30 and a beta of 0.75. The company has a current ratio of 1.26, a quick ratio of 0.43 and a debt-to-equity ratio of 0.08.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.06). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. PriceSmart had a net margin of 2.76% and a return on equity of 12.29%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 EPS. On average, analysts expect that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.63 dividend. This represents a yield of 1.2%. The ex-dividend date is Friday, August 15th. PriceSmart’s payout ratio is currently 26.92%.

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.