Bank of New York Mellon Corp Cuts Stock Position in PriceSmart, Inc. $PSMT

Bank of New York Mellon Corp reduced its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 2.8% during the first quarter, Holdings Channel reports. The fund owned 200,300 shares of the company’s stock after selling 5,686 shares during the period. Bank of New York Mellon Corp’s holdings in PriceSmart were worth $30,145,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. grew its stake in shares of PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 252 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of PriceSmart by 76.0% during the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after purchasing an additional 98 shares during the period. CENTRAL TRUST Co purchased a new stake in shares of PriceSmart during the fourth quarter valued at approximately $32,000. Osaic Holdings Inc. grew its holdings in shares of PriceSmart by 57.2% in the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after purchasing an additional 179 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in PriceSmart by 45,600.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock valued at $56,000 after buying an additional 456 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PriceSmart

In related news, Director Beatriz V. Infante sold 800 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $195.98, for a total transaction of $156,784.00. Following the completion of the transaction, the director owned 11,210 shares of the company’s stock, valued at $2,196,935.80. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gordon H. Hanson sold 635 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total value of $100,076.00. Following the completion of the sale, the director directly owned 8,149 shares in the company, valued at approximately $1,284,282.40. This represents a 7.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 4,032 shares of company stock worth $660,982. Corporate insiders own 17.00% of the company’s stock.

PriceSmart Stock Performance

NASDAQ:PSMT opened at $186.24 on Monday. The stock has a market cap of $5.75 billion, a P/E ratio of 35.75 and a beta of 0.76. The firm’s fifty day simple moving average is $181.61 and its 200 day simple moving average is $161.31. PriceSmart, Inc. has a twelve month low of $104.65 and a twelve month high of $199.84. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.04). PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. PriceSmart’s quarterly revenue was up 12.5% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

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

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.