Federated Hermes Inc. Trims Holdings in PriceSmart, Inc. $PSMT

Federated Hermes Inc. lowered its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 29.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,011 shares of the company’s stock after selling 8,312 shares during the period. Federated Hermes Inc. owned 0.07% of PriceSmart worth $2,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its holdings in shares of PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 252 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in PriceSmart in the 2nd quarter valued at about $28,000. First Horizon Corp acquired a new position in PriceSmart in the 3rd quarter valued at about $30,000. Steward Partners Investment Advisory LLC raised its stake in PriceSmart by 52.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in PriceSmart during the 3rd quarter worth approximately $39,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PriceSmart

In other PriceSmart news, EVP Paul Kovaleski sold 4,255 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $136.86, for a total transaction of $582,339.30. Following the transaction, the executive vice president directly owned 38,854 shares in the company, valued at approximately $5,317,558.44. This represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Beatriz V. Infante sold 1,995 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $136.87, for a total transaction of $273,055.65. Following the completion of the transaction, the director directly owned 10,879 shares of the company’s stock, valued at approximately $1,489,008.73. This trade represents a 15.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 18,827 shares of company stock worth $2,532,481. Company insiders own 17.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PSMT. Wall Street Zen lowered PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Weiss Ratings lowered shares of PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, PriceSmart has a consensus rating of “Buy”.

PriceSmart Stock Performance

Shares of PSMT stock opened at $147.23 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.55 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $131.37 and a 200-day simple moving average of $120.86. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 30.05 and a beta of 0.75. PriceSmart, Inc. has a 12-month low of $81.25 and a 12-month high of $148.02.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, January 7th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.PriceSmart’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 earnings per share. On average, equities analysts forecast that PriceSmart, Inc. will post 5.28 EPS for the current year.

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.