Foster & Motley Inc. Has $1.61 Million Stock Position in PriceSmart, Inc. $PSMT

Foster & Motley Inc. lessened its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 22.5% during the first quarter, HoldingsChannel.com reports. The firm owned 10,694 shares of the company’s stock after selling 3,096 shares during the quarter. Foster & Motley Inc.’s holdings in PriceSmart were worth $1,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PSMT. Progeny 3 Inc. acquired a new stake in PriceSmart during the third quarter worth approximately $27,825,000. Invesco Ltd. increased its position in shares of PriceSmart by 54.7% in the second quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after purchasing an additional 194,980 shares during the period. Fisher Asset Management LLC raised its stake in PriceSmart by 821.3% in the fourth quarter. Fisher Asset Management LLC now owns 217,000 shares of the company’s stock valued at $26,619,000 after purchasing an additional 193,446 shares in the last quarter. Victory Capital Management Inc. raised its stake in PriceSmart by 37.0% in the third quarter. Victory Capital Management Inc. now owns 651,499 shares of the company’s stock valued at $78,955,000 after purchasing an additional 175,806 shares in the last quarter. Finally, Millennium Management LLC grew its stake in PriceSmart by 5,150.6% during the third quarter. Millennium Management LLC now owns 114,936 shares of the company’s stock worth $13,929,000 after buying an additional 112,747 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Insider Buying and Selling at PriceSmart

In other news, Director Gordon H. Hanson sold 635 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $157.60, for a total value of $100,076.00. Following the completion of the sale, the director owned 8,149 shares of the company’s stock, valued at approximately $1,284,282.40. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,232 shares of company stock worth $504,198. Insiders own 17.00% of the company’s stock.

PriceSmart Price Performance

PSMT stock opened at $196.25 on Friday. The company has a market capitalization of $6.06 billion, a P/E ratio of 38.71 and a beta of 0.78. The company has a fifty day moving average price of $168.53 and a 200-day moving average price of $151.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.52 and a current ratio of 1.29. PriceSmart, Inc. has a 52-week low of $101.30 and a 52-week high of $197.59.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Wednesday, April 8th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.05. The business 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%.PriceSmart’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.45 earnings per share.

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.