Northwestern Mutual Wealth Management Co. Increases Holdings in PriceSmart, Inc. $PSMT

Northwestern Mutual Wealth Management Co. grew its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 20,600.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 36,225 shares of the company’s stock after acquiring an additional 36,050 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in PriceSmart were worth $4,444,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CENTRAL TRUST Co purchased a new stake in PriceSmart in the 4th quarter worth about $32,000. Geneos Wealth Management Inc. raised its position in PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares during the period. AlphaQuest LLC raised its position in PriceSmart by 127.5% in the 3rd quarter. AlphaQuest LLC now owns 414 shares of the company’s stock worth $50,000 after purchasing an additional 232 shares during the period. Osaic Holdings Inc. raised its position in PriceSmart by 57.2% in the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after purchasing an additional 179 shares during the period. Finally, Parallel Advisors LLC raised its position in PriceSmart by 27.4% in the 3rd quarter. Parallel Advisors LLC now owns 516 shares of the company’s stock worth $63,000 after purchasing an additional 111 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Stock Performance

PriceSmart stock opened at $164.65 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. PriceSmart, Inc. has a 1-year low of $99.98 and a 1-year high of $166.24. The firm has a market capitalization of $5.09 billion, a P/E ratio of 32.48 and a beta of 0.77. The company’s 50-day moving average is $154.91 and its 200 day moving average is $141.96.

PriceSmart (NASDAQ:PSMT) last issued its earnings results on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.05. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company posted $1.45 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year.

Insider Activity

In other news, Director Edgar Zurcher sold 2,259 shares of PriceSmart stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $155.17, for a total transaction of $350,529.03. Following the completion of the sale, the director owned 8,151 shares of the company’s stock, valued at approximately $1,264,790.67. The trade was a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gordon H. Hanson sold 635 shares of PriceSmart stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total transaction of $100,076.00. Following the sale, the director directly owned 8,149 shares of the company’s stock, valued at $1,284,282.40. This represents a 7.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,232 shares of company stock valued at $504,198. Corporate insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of PriceSmart from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

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.