Copeland Capital Management LLC Sells 14,495 Shares of PriceSmart, Inc. $PSMT

Copeland Capital Management LLC cut its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 638,913 shares of the company’s stock after selling 14,495 shares during the period. PriceSmart comprises about 2.1% of Copeland Capital Management LLC’s holdings, making the stock its 2nd largest holding. Copeland Capital Management LLC’s holdings in PriceSmart were worth $96,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Progeny 3 Inc. purchased a new stake in shares of PriceSmart during the third quarter worth approximately $27,825,000. Invesco Ltd. grew its holdings in PriceSmart by 54.7% during the 2nd quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after acquiring an additional 194,980 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of PriceSmart by 821.3% in the 4th quarter. Fisher Asset Management LLC now owns 217,000 shares of the company’s stock valued at $26,619,000 after purchasing an additional 193,446 shares during the last quarter. Millennium Management LLC lifted its holdings in PriceSmart by 5,150.6% during the 3rd quarter. Millennium Management LLC now owns 114,936 shares of the company’s stock worth $13,929,000 after buying an additional 112,747 shares during the last quarter. Finally, E. Ohman J or Asset Management AB lifted its holdings in PriceSmart by 539.9% during the 1st quarter. E. Ohman J or Asset Management AB now owns 131,990 shares of the company’s stock worth $19,864,000 after buying an additional 111,362 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Buying and Selling at PriceSmart

In other news, EVP Francisco Velasco sold 338 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $158.56, for a total transaction of $53,593.28. Following the completion of the sale, the executive vice president owned 75,659 shares in the company, valued at approximately $11,996,491.04. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edgar Zurcher sold 2,259 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $155.17, for a total value of $350,529.03. Following the completion of the transaction, the director owned 8,151 shares in the company, valued at $1,264,790.67. This trade represents a 21.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,032 shares of company stock valued at $660,982. Company insiders own 17.00% of the company’s stock.

PriceSmart Stock Performance

Shares of PSMT stock opened at $186.00 on Friday. The stock’s 50-day moving average is $178.90 and its two-hundred day moving average is $158.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. PriceSmart, Inc. has a 1 year low of $104.11 and a 1 year high of $199.84. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 35.70 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT) last announced its earnings results 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 analyst estimates of $1.43 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently 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.