Francisco Velasco Sells 338 Shares of PriceSmart (NASDAQ:PSMT) Stock

PriceSmart, Inc. (NASDAQ:PSMT) EVP Francisco Velasco sold 338 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $177.87, for a total transaction of $60,120.06. Following the transaction, the executive vice president directly owned 75,321 shares of the company’s stock, valued at $13,397,346.27. This represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

PriceSmart Stock Performance

NASDAQ PSMT traded down $1.09 on Wednesday, hitting $175.61. 125,594 shares of the stock traded hands, compared to its average volume of 254,916. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. The business’s fifty day moving average is $186.65 and its two-hundred day moving average is $166.74. PriceSmart, Inc. has a 12 month low of $105.46 and a 12 month high of $199.84. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 33.71 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.04). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share.

Institutional Trading of PriceSmart

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of PriceSmart during the 2nd quarter valued at about $814,722,000. State Street Corp raised its stake in shares of PriceSmart by 2.4% during the second quarter. State Street Corp now owns 1,045,998 shares of the company’s stock worth $109,872,000 after acquiring an additional 24,512 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of PriceSmart by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 763,261 shares of the company’s stock worth $93,640,000 after acquiring an additional 7,095 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of PriceSmart by 13.3% in the 3rd quarter. Invesco Ltd. now owns 624,985 shares of the company’s stock worth $75,742,000 after acquiring an additional 73,419 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of PriceSmart by 1.7% in the 4th quarter. Morgan Stanley now owns 495,799 shares of the company’s stock valued at $60,820,000 after purchasing an additional 8,428 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSMT. Weiss Ratings downgraded PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 price target on shares of PriceSmart in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $198.00.

PriceSmart Company 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.