US Bancorp DE Sells 2,696 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

US Bancorp DE decreased its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT – Get Rating) by 35.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,899 shares of the company’s stock after selling 2,696 shares during the quarter. US Bancorp DE’s holdings in PriceSmart were worth $282,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in shares of PriceSmart during the first quarter worth approximately $37,000. Venture Visionary Partners LLC bought a new stake in PriceSmart in the 2nd quarter valued at $116,000. PNC Financial Services Group Inc. boosted its holdings in PriceSmart by 43.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the company’s stock valued at $137,000 after purchasing an additional 523 shares during the period. Guggenheim Capital LLC bought a new position in shares of PriceSmart during the 1st quarter worth about $203,000. Finally, Curated Wealth Partners LLC bought a new position in shares of PriceSmart during the 2nd quarter worth about $208,000. Institutional investors and hedge funds own 80.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PSMT shares. StockNews.com downgraded PriceSmart from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 11th. Scotiabank downgraded PriceSmart from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $96.00 to $77.00 in a research report on Tuesday, November 29th.

Insider Transactions at PriceSmart

In related news, Director Gordon H. Hanson sold 1,450 shares of the business’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $68.79, for a total value of $99,745.50. Following the sale, the director now owns 4,707 shares of the company’s stock, valued at approximately $323,794.53. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other PriceSmart news, CEO Sherry S. Bahrambeygui sold 15,000 shares of the business’s stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $69.74, for a total value of $1,046,100.00. Following the transaction, the chief executive officer now directly owns 177,306 shares in the company, valued at $12,365,320.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gordon H. Hanson sold 1,450 shares of the company’s stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $68.79, for a total transaction of $99,745.50. Following the sale, the director now directly owns 4,707 shares in the company, valued at $323,794.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,736 shares of company stock valued at $2,933,773. Corporate insiders own 17.40% of the company’s stock.

PriceSmart Trading Down 1.1 %

Shares of PriceSmart stock opened at $70.62 on Wednesday. PriceSmart, Inc. has a 52-week low of $56.29 and a 52-week high of $88.30. The firm has a market capitalization of $2.19 billion, a PE ratio of 20.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.40 and a quick ratio of 0.56. The company’s fifty day moving average price is $66.70 and its two-hundred day moving average price is $64.93.

PriceSmart (NASDAQ:PSMT – Get Rating) last posted its earnings results on Monday, January 9th. The company reported $1.05 earnings per share for the quarter. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.08 billion. PriceSmart had a net margin of 2.58% and a return on equity of 10.86%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share.

PriceSmart Profile

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PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. Its warehouse clubs sell locally and regionally sourced goods, essential goods, direct-from-farm fresh produce, private label consumer products, prepared foods, and fresh-baked goods under the brand name Member's Selection.