The Manufacturers Life Insurance Company Acquires Shares of 13,998 PriceSmart, Inc. $PSMT

The Manufacturers Life Insurance Company bought a new stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,998 shares of the company’s stock, valued at approximately $2,734,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in shares of PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after acquiring an additional 252 shares in the last quarter. UMB Bank n.a. lifted its position in 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 acquiring an additional 98 shares during the period. CENTRAL TRUST Co bought a new stake in PriceSmart during the fourth quarter worth about $32,000. Bell Investment Advisors Inc bought a new stake in PriceSmart during the second quarter worth about $40,000. Finally, Osaic Holdings Inc. grew its holdings in 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 period. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Price Performance

Shares of NASDAQ:PSMT opened at $172.07 on Thursday. The business has a fifty day moving average price of $184.77 and a 200-day moving average price of $168.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53. The company has a market capitalization of $5.31 billion, a PE ratio of 33.03 and a beta of 0.76. PriceSmart, Inc. has a 1-year low of $107.21 and a 1-year high of $199.84.

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 analysts’ consensus estimates of $1.32 by ($0.04). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.During the same quarter in the previous year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis.

Insiders Place Their Bets

In other PriceSmart news, Director Beatriz V. Infante sold 800 shares of PriceSmart stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $195.98, for a total value of $156,784.00. Following the completion of the transaction, the director directly owned 11,210 shares of the company’s stock, valued at approximately $2,196,935.80. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $197.38, for a total transaction of $690,632.62. Following the completion of the transaction, the director owned 32,150 shares in the company, valued at approximately $6,345,767. This represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 7,737 shares of company stock valued at $1,506,176. Insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PSMT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of PriceSmart in a research note on Wednesday, August 26th. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 price target on shares of PriceSmart in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $198.00.

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.