Burney Co. Reduces Stake in PriceSmart, Inc. $PSMT

Burney Co. lowered its position in PriceSmart, Inc. (NASDAQ:PSMT) by 35.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 63,336 shares of the company’s stock after selling 35,111 shares during the quarter. Burney Co.’s holdings in PriceSmart were worth $9,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Maryland State Retirement & Pension System lifted its holdings in PriceSmart by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,699 shares of the company’s stock valued at $454,000 after acquiring an additional 73 shares during the period. Parallel Advisors LLC boosted its position in PriceSmart by 14.3% in the fourth quarter. Parallel Advisors LLC now owns 590 shares of the company’s stock worth $72,000 after purchasing an additional 74 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of PriceSmart by 10.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock valued at $101,000 after purchasing an additional 93 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 purchasing an additional 98 shares during the period. Finally, UMB Bank n.a. increased its position in shares of PriceSmart by 76.0% during the 4th 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 last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

PriceSmart Trading Down 1.9%

Shares of PSMT stock opened at $194.10 on Tuesday. PriceSmart, Inc. has a 1 year low of $101.30 and a 1 year high of $199.84. The firm has a fifty day moving average price of $172.88 and a 200-day moving average price of $154.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 38.28 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Wednesday, April 8th. The company reported $1.62 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 company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $1.45 EPS. PriceSmart’s revenue for the quarter was up 9.7% compared to the same quarter last year.

Insider Buying and Selling at PriceSmart

In other news, EVP Francisco Velasco sold 338 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $158.56, for a total value of $53,593.28. Following the transaction, the executive vice president owned 75,659 shares of the company’s stock, valued at $11,996,491.04. This trade represents a 0.44% 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, Director Gordon H. Hanson sold 635 shares of PriceSmart stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value of $100,076.00. Following the transaction, the director directly owned 8,149 shares in the company, valued at approximately $1,284,282.40. The trade was a 7.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,232 shares of company stock valued at $504,198. Company insiders own 17.00% of the company’s stock.

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 note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

About PriceSmart

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.