PriceSmart, Inc. $PSMT Stock Position Lowered by American Century Companies Inc.

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

A number of other hedge funds also recently bought and sold shares of the company. Pertento Partners LLP purchased a new position in PriceSmart during the 2nd quarter worth approximately $42,224,000. Invesco Ltd. grew its position in PriceSmart by 54.7% in the second quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after acquiring an additional 194,980 shares in the last quarter. Boston Trust Walden Corp acquired a new position in shares of PriceSmart during the 3rd quarter worth $21,915,000. Goldman Sachs Group Inc. boosted its stake in shares of PriceSmart by 41.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company’s stock worth $16,069,000 after acquiring an additional 53,874 shares in the last quarter. Finally, Managed Asset Portfolios LLC raised its position in shares of PriceSmart by 37.5% in the second quarter. Managed Asset Portfolios LLC now owns 149,653 shares of the company’s stock valued at $15,720,000 after purchasing an additional 40,776 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Stock Performance

PriceSmart stock opened at $154.62 on Monday. The company’s 50-day moving average is $141.36 and its two-hundred day moving average is $126.56. The company has a market cap of $4.77 billion, a PE ratio of 31.56 and a beta of 0.73. PriceSmart, Inc. has a 1 year low of $81.25 and a 1 year 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 posted its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 EPS. Equities analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

PriceSmart Dividend Announcement

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

Insider Activity at PriceSmart

In other news, COO John D. Hildebrandt sold 7,421 shares of PriceSmart stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $136.88, for a total value of $1,015,786.48. Following the sale, the chief operating officer directly owned 108,194 shares in the company, valued at $14,809,594.72. This trade represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Kovaleski sold 4,255 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.86, for a total transaction of $582,339.30. Following the transaction, the executive vice president owned 38,854 shares of the company’s stock, valued at approximately $5,317,558.44. This represents a 9.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,671 shares of company stock worth $2,283,051. Corporate insiders own 17.00% of the company’s stock.

Analysts Set New Price Targets

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