SummerHaven Investment Management LLC Increases Position in PriceSmart, Inc. (NASDAQ:PSMT)

SummerHaven Investment Management LLC increased its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,562 shares of the company’s stock after purchasing an additional 147 shares during the period. SummerHaven Investment Management LLC’s holdings in PriceSmart were worth $725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PSMT. Rafferty Asset Management LLC raised its stake in PriceSmart by 5.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 4,270 shares of the company’s stock valued at $318,000 after purchasing an additional 208 shares during the period. Watershed Asset Management L.L.C. raised its position in shares of PriceSmart by 8.1% during the fourth quarter. Watershed Asset Management L.L.C. now owns 3,900 shares of the company’s stock valued at $296,000 after buying an additional 293 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of PriceSmart by 2.4% in the fourth quarter. New York State Teachers Retirement System now owns 12,554 shares of the company’s stock worth $951,000 after buying an additional 300 shares in the last quarter. Diversified Trust Co boosted its position in shares of PriceSmart by 3.8% during the fourth quarter. Diversified Trust Co now owns 8,263 shares of the company’s stock worth $626,000 after acquiring an additional 304 shares during the last quarter. Finally, Wittenberg Investment Management Inc. grew its stake in PriceSmart by 2.5% during the third quarter. Wittenberg Investment Management Inc. now owns 16,394 shares of the company’s stock valued at $1,220,000 after acquiring an additional 400 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gordon H. Hanson sold 937 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.86, for a total value of $74,828.82. Following the sale, the director now owns 7,969 shares of the company’s stock, valued at $636,404.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Gordon H. Hanson sold 937 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $79.86, for a total transaction of $74,828.82. Following the completion of the sale, the director now directly owns 7,969 shares of the company’s stock, valued at approximately $636,404.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edgar Zurcher sold 1,075 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $79.08, for a total transaction of $85,011.00. Following the completion of the transaction, the director now owns 8,822 shares in the company, valued at $697,643.76. The disclosure for this sale can be found here. Insiders sold 3,512 shares of company stock valued at $280,620 over the last three months. 18.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

PSMT has been the topic of several research analyst reports. Jefferies Financial Group boosted their price target on shares of PriceSmart from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. StockNews.com lowered PriceSmart from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 13th. Finally, TheStreet upgraded PriceSmart from a “c+” rating to a “b-” rating in a report on Tuesday, January 30th.

PriceSmart Price Performance

PSMT stock opened at $81.97 on Tuesday. PriceSmart, Inc. has a 52 week low of $61.82 and a 52 week high of $86.90. The firm has a market capitalization of $2.50 billion, a P/E ratio of 20.60 and a beta of 0.92. The company has a fifty day simple moving average of $81.98 and a two-hundred day simple moving average of $76.13. The company has a quick ratio of 0.49, a current ratio of 1.20 and a debt-to-equity ratio of 0.09.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, April 10th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. PriceSmart had a net margin of 2.62% and a return on equity of 11.85%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts anticipate that PriceSmart, Inc. will post 4.64 earnings per share for the current fiscal year.

PriceSmart Announces Dividend

The business also recently declared a None dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, April 18th. PriceSmart’s dividend payout ratio is presently 29.15%.

PriceSmart Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.