Public Sector Pension Investment Board lessened its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 11.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,900 shares of the company’s stock after selling 6,500 shares during the period. Public Sector Pension Investment Board owned 0.16% of PriceSmart worth $3,544,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. 361 Capital LLC purchased a new position in PriceSmart during the 4th quarter worth approximately $1,188,000. Nicholas Company Inc. lifted its position in shares of PriceSmart by 12.1% during the fourth quarter. Nicholas Company Inc. now owns 66,080 shares of the company’s stock worth $4,693,000 after purchasing an additional 7,125 shares in the last quarter. Oxford Asset Management LLP lifted its position in shares of PriceSmart by 52.8% during the fourth quarter. Oxford Asset Management LLP now owns 32,254 shares of the company’s stock worth $2,291,000 after purchasing an additional 11,151 shares in the last quarter. Amalgamated Bank lifted its position in shares of PriceSmart by 7.7% during the fourth quarter. Amalgamated Bank now owns 3,812 shares of the company’s stock worth $271,000 after purchasing an additional 271 shares in the last quarter. Finally, Pinebridge Investments L.P. acquired a new position in shares of PriceSmart during the fourth quarter worth approximately $806,000. Hedge funds and other institutional investors own 74.92% of the company’s stock.
Separately, BidaskClub raised PriceSmart from a “strong sell” rating to a “sell” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $61.70.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Thursday, January 9th. The company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. The business had revenue of $811.94 million during the quarter, compared to analysts’ expectations of $827.30 million. PriceSmart had a return on equity of 10.58% and a net margin of 2.40%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share.
The company also recently announced a semi-annual dividend, which will be paid on Monday, August 31st. Investors of record on Saturday, August 15th will be given a $0.35 dividend. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 13th.
In other news, major shareholder Philanthropies Foundatio Price sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $42.22, for a total transaction of $422,200.00. Following the completion of the sale, the insider now directly owns 4,186,467 shares in the company, valued at $176,752,636.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 50,000 shares of company stock worth $2,937,700 over the last ninety days. Corporate insiders own 27.10% of the company’s stock.
PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
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