Geode Capital Management LLC Increases Position in PriceSmart, Inc. $PSMT

Geode Capital Management LLC lifted its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 763,261 shares of the company’s stock after buying an additional 7,095 shares during the quarter. Geode Capital Management LLC’s holdings in PriceSmart were worth $93,640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bleakley Financial Group LLC boosted its holdings in shares of PriceSmart by 3.6% in the 4th quarter. Bleakley Financial Group LLC now owns 21,849 shares of the company’s stock valued at $2,680,000 after purchasing an additional 752 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of PriceSmart by 821.3% during the 4th quarter. Fisher Asset Management LLC now owns 217,000 shares of the company’s stock valued at $26,619,000 after buying an additional 193,446 shares during the period. Clearstead Advisors LLC grew its stake in shares of PriceSmart by 15.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,482 shares of the company’s stock valued at $304,000 after buying an additional 331 shares during the period. Hantz Financial Services Inc. grew its stake in shares of PriceSmart by 15.1% during the 4th quarter. Hantz Financial Services Inc. now owns 745 shares of the company’s stock valued at $91,000 after buying an additional 98 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of PriceSmart during the 4th quarter valued at $206,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

PriceSmart Stock Up 0.5%

Shares of NASDAQ:PSMT opened at $173.97 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.52 and a current ratio of 1.29. PriceSmart, Inc. has a 1 year low of $99.98 and a 1 year high of $177.45. The stock has a market capitalization of $5.38 billion, a P/E ratio of 34.31 and a beta of 0.78. The stock has a 50-day simple moving average of $159.69 and a 200-day simple moving average of $145.52.

PriceSmart (NASDAQ:PSMT) last issued its earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.05. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business earned $1.45 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis.

Insiders Place Their Bets

In other PriceSmart news, Director Edgar Zurcher sold 2,259 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $155.17, for a total transaction of $350,529.03. Following the completion of the sale, the director directly owned 8,151 shares in the company, valued at $1,264,790.67. The trade was a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Francisco Velasco sold 338 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $158.56, for a total transaction of $53,593.28. Following the sale, the executive vice president owned 75,659 shares of the company’s stock, valued at approximately $11,996,491.04. This represents a 0.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,232 shares of company stock worth $504,198 over the last ninety days. 17.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently 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.