TIAA CREF Investment Management LLC reduced its position in PriceSmart, Inc. (NASDAQ:PSMT) by 4.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,841 shares of the company’s stock after selling 3,661 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.27% of PriceSmart worth $7,361,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in PSMT. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of PriceSmart by 16.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,269,690 shares of the company’s stock worth $117,066,000 after buying an additional 174,683 shares during the period. Norges Bank purchased a new stake in shares of PriceSmart during the fourth quarter worth about $13,240,000. Bank of Montreal Can boosted its stake in shares of PriceSmart by 4.8% in the first quarter. Bank of Montreal Can now owns 910,818 shares of the company’s stock worth $83,978,000 after buying an additional 41,599 shares during the period. State Street Corp boosted its stake in shares of PriceSmart by 6.6% in the fourth quarter. State Street Corp now owns 425,267 shares of the company’s stock worth $35,509,000 after buying an additional 26,400 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of PriceSmart by 1.7% in the first quarter. Wellington Management Group LLP now owns 1,348,139 shares of the company’s stock worth $124,298,000 after buying an additional 21,936 shares during the period. 73.63% of the stock is owned by hedge funds and other institutional investors.
Shares of PriceSmart, Inc. (NASDAQ PSMT) traded down 0.77% during trading on Friday, hitting $83.70. 112,264 shares of the company were exchanged. The firm has a market capitalization of $2.51 billion, a PE ratio of 27.36 and a beta of 1.24. PriceSmart, Inc. has a 12 month low of $77.50 and a 12 month high of $94.40. The firm’s 50-day moving average price is $84.69 and its 200 day moving average price is $87.37.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, July 5th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by $0.05. The company had revenue of $730.30 million during the quarter, compared to analysts’ expectations of $734.80 million. PriceSmart had a return on equity of 14.05% and a net margin of 3.13%. PriceSmart’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. On average, equities research analysts expect that PriceSmart, Inc. will post $3.08 earnings per share for the current fiscal year.
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PSMT has been the subject of a number of analyst reports. Roth Capital set a $102.00 price objective on shares of PriceSmart and gave the stock a “buy” rating in a research note on Thursday, May 18th. BidaskClub lowered shares of PriceSmart from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. TheStreet lowered shares of PriceSmart from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. Finally, Zacks Investment Research lowered shares of PriceSmart from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 12th.
In related news, Director Sherry S. Bahrambeygui sold 3,561 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $84.88, for a total value of $302,257.68. Following the completion of the sale, the director now owns 125,374 shares of the company’s stock, valued at approximately $10,641,745.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 28.00% of the stock is currently owned by insiders.
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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