77,797 Shares in PriceSmart, Inc. $PSMT Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 77,797 shares of the company’s stock, valued at approximately $15,197,000.

A number of other hedge funds also recently bought and sold shares of the company. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of PriceSmart in the second quarter worth about $14,250,000. Empowered Funds LLC acquired a new stake in shares of PriceSmart during the second quarter valued at approximately $6,926,000. Jefferies Financial Group Inc. purchased a new stake in shares of PriceSmart in the 2nd quarter valued at approximately $294,000. Public Employees Retirement System of Ohio purchased a new stake in shares of PriceSmart in the 2nd quarter valued at approximately $123,000. Finally, Capstone Investment Advisors LLC acquired a new position in PriceSmart in the 2nd quarter worth approximately $578,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Price Performance

PSMT stock opened at $174.10 on Tuesday. The company has a 50 day moving average of $183.45 and a two-hundred day moving average of $168.89. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 33.42 and a beta of 0.76. PriceSmart, Inc. has a 12-month low of $108.45 and a 12-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 posted its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 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 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research firms have weighed in on PSMT. Weiss Ratings reiterated a “buy (b)” rating on shares of PriceSmart in a research report on Wednesday, August 26th. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 price objective on shares of PriceSmart in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, PriceSmart has an average rating of “Buy” and an average target price of $198.00.

Insider Buying and Selling at PriceSmart

In other news, Director Beatriz V. Infante sold 800 shares of the firm’s stock in a transaction dated 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 sale, the director directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $177.87, for a total value of $60,120.06. Following the sale, the executive vice president owned 75,321 shares of the company’s stock, valued at approximately $13,397,346.27. This represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,737 shares of company stock worth $1,506,176 over the last 90 days. 17.00% of the stock is currently owned by corporate insiders.

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.