PriceSmart, Inc. $PSMT Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 19.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,627 shares of the company’s stock after selling 4,111 shares during the period. Intech Investment Management LLC owned about 0.05% of PriceSmart worth $2,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TD Asset Management Inc purchased a new position in shares of PriceSmart in the 3rd quarter valued at about $696,000. AXQ Capital LP acquired a new position in PriceSmart in the 3rd quarter valued at $202,000. State of New Jersey Common Pension Fund D raised its holdings in PriceSmart by 9.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 19,779 shares of the company’s stock worth $2,397,000 after purchasing an additional 1,705 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of PriceSmart by 3.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,909 shares of the company’s stock valued at $474,000 after buying an additional 136 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in shares of PriceSmart by 15.7% in the third quarter. Public Sector Pension Investment Board now owns 98,242 shares of the company’s stock valued at $11,906,000 after purchasing an additional 13,344 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Paul Kovaleski sold 4,255 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.86, for a total transaction of $582,339.30. Following the completion of the sale, the executive vice president owned 38,854 shares in the company, valued at approximately $5,317,558.44. The trade was a 9.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John D. Hildebrandt sold 7,421 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $136.88, for a total transaction of $1,015,786.48. Following the sale, the chief operating officer directly owned 108,194 shares of the company’s stock, valued at approximately $14,809,594.72. This trade represents a 6.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,671 shares of company stock worth $2,283,051 over the last ninety days. Company insiders own 17.00% of the company’s stock.

PriceSmart Stock Up 0.9%

PSMT opened at $153.06 on Thursday. The firm has a market cap of $4.72 billion, a P/E ratio of 31.24 and a beta of 0.73. The business’s fifty day simple moving average is $143.14 and its 200 day simple moving average is $127.36. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $158.01. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. PriceSmart had a net margin of 2.79% and a return on equity of 12.20%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS. As a group, equities research analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

PriceSmart Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.70 per share. This represents a dividend yield of 89.0%. The ex-dividend date of this dividend is Monday, August 17th. PriceSmart’s dividend payout ratio is currently 28.57%.

Analyst Ratings Changes

PSMT has been the topic of several recent research reports. Wall Street Zen lowered shares of PriceSmart from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Weiss Ratings cut shares of PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, PriceSmart has an average rating of “Buy”.

About PriceSmart

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.