Mirabella Financial Services LLP Acquires New Position in PriceSmart, Inc. (NASDAQ:PSMT)

Mirabella Financial Services LLP bought a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 20,983 shares of the company’s stock, valued at approximately $1,934,000. Mirabella Financial Services LLP owned about 0.07% of PriceSmart as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PSMT. Barclays PLC raised its position in shares of PriceSmart by 227.3% during the 3rd quarter. Barclays PLC now owns 46,710 shares of the company’s stock valued at $4,287,000 after acquiring an additional 32,438 shares in the last quarter. Burney Co. acquired a new stake in shares of PriceSmart during the fourth quarter worth $5,030,000. Harbor Capital Advisors Inc. raised its holdings in shares of PriceSmart by 47.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 18,195 shares of the company’s stock worth $1,677,000 after purchasing an additional 5,818 shares during the period. JPMorgan Chase & Co. lifted its position in shares of PriceSmart by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 42,955 shares of the company’s stock worth $3,942,000 after buying an additional 3,406 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of PriceSmart by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 684,870 shares of the company’s stock valued at $62,868,000 after buying an additional 25,216 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other PriceSmart news, CFO Michael Mccleary sold 4,000 shares of PriceSmart stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.67, for a total transaction of $358,680.00. Following the sale, the chief financial officer now owns 58,141 shares of the company’s stock, valued at $5,213,503.47. The trade was a 6.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John D. Hildebrandt sold 8,020 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $90.51, for a total value of $725,890.20. Following the completion of the transaction, the chief operating officer now directly owns 123,547 shares of the company’s stock, valued at approximately $11,182,238.97. The trade was a 6.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,055 shares of company stock valued at $1,833,849. Insiders own 17.10% of the company’s stock.

PriceSmart Trading Up 1.5 %

Shares of NASDAQ PSMT opened at $93.64 on Friday. PriceSmart, Inc. has a 12-month low of $77.51 and a 12-month high of $99.23. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 20.63 and a beta of 0.87. The company has a current ratio of 1.26, a quick ratio of 0.43 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $87.93 and its 200 day simple moving average is $90.06.

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

PriceSmart Announces Dividend

The company also recently declared a dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a $0.63 dividend. The ex-dividend date was Tuesday, February 18th. PriceSmart’s payout ratio is currently 26.92%.

PriceSmart Company Profile

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.