Comerica Bank Has $4.08 Million Holdings in PriceSmart, Inc. $PSMT

Comerica Bank raised its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 77.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 33,224 shares of the company’s stock after acquiring an additional 14,475 shares during the quarter. Comerica Bank’s holdings in PriceSmart were worth $4,076,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Corp acquired a new position in PriceSmart in the third quarter valued at approximately $30,000. Geneos Wealth Management Inc. lifted its stake in PriceSmart by 560.0% in 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 period. Mather Group LLC. acquired a new position in PriceSmart in the third quarter valued at approximately $39,000. AlphaQuest LLC lifted its stake in PriceSmart by 127.5% in the third quarter. AlphaQuest LLC now owns 414 shares of the company’s stock valued at $50,000 after buying an additional 232 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in PriceSmart by 57.2% in the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after buying an additional 179 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings lowered PriceSmart from a “buy (a-)” rating to a “buy (b)” rating in a research note on Tuesday, April 14th. Wall Street Zen lowered PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

PriceSmart Trading Up 0.8%

NASDAQ PSMT opened at $158.21 on Friday. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 31.21 and a beta of 0.77. PriceSmart, Inc. has a 52 week low of $99.14 and a 52 week high of $165.46. The business has a 50 day moving average price of $152.49 and a 200-day moving average price of $138.06. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.57 by $0.05. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.45 earnings per share.

PriceSmart Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, August 17th. This represents a dividend yield of 89.0%. PriceSmart’s payout ratio is currently 27.61%.

PriceSmart Company 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.