QRG Capital Management Inc. Acquires Shares of 2,694 PriceSmart, Inc. (NASDAQ:PSMT)

QRG Capital Management Inc. acquired a new stake in PriceSmart, Inc. (NASDAQ:PSMTFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,694 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds have also modified their holdings of the business. American Century Companies Inc. raised its stake in shares of PriceSmart by 114.4% during the 3rd quarter. American Century Companies Inc. now owns 492,976 shares of the company’s stock worth $36,692,000 after buying an additional 263,016 shares in the last quarter. Vanguard Group Inc. increased its position in PriceSmart by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,177,335 shares of the company’s stock worth $236,489,000 after purchasing an additional 133,814 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in PriceSmart in the 3rd quarter valued at about $7,951,000. Fourth Sail Capital LP purchased a new position in PriceSmart in the 4th quarter valued at about $7,738,000. Finally, Acadian Asset Management LLC boosted its stake in shares of PriceSmart by 905.6% during the 3rd quarter. Acadian Asset Management LLC now owns 40,637 shares of the company’s stock worth $3,018,000 after purchasing an additional 36,596 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO John D. Hildebrandt sold 6,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $81.92, for a total transaction of $491,520.00. Following the sale, the chief operating officer now directly owns 140,485 shares in the company, valued at approximately $11,508,531.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other PriceSmart news, COO John D. Hildebrandt sold 6,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $81.92, for a total value of $491,520.00. Following the completion of the sale, the chief operating officer now owns 140,485 shares of the company’s stock, valued at $11,508,531.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sherry S. Bahrambeygui sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $86.08, for a total transaction of $430,400.00. Following the transaction, the director now directly owns 70,716 shares in the company, valued at $6,087,233.28. The disclosure for this sale can be found here. Insiders have sold a total of 27,200 shares of company stock worth $2,260,293 over the last quarter. 18.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com lowered PriceSmart from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 13th. TheStreet upgraded shares of PriceSmart from a “c+” rating to a “b-” rating in a report on Tuesday, January 30th. Finally, Jefferies Financial Group increased their price target on shares of PriceSmart from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th.

Get Our Latest Research Report on PriceSmart

PriceSmart Price Performance

Shares of PriceSmart stock opened at $85.52 on Wednesday. The stock has a market capitalization of $2.63 billion, a P/E ratio of 21.49 and a beta of 0.92. The company has a current ratio of 1.20, a quick ratio of 0.49 and a debt-to-equity ratio of 0.09. The business’s fifty day moving average price is $82.50 and its 200 day moving average price is $77.70. PriceSmart, Inc. has a twelve month low of $61.82 and a twelve month high of $87.99.

PriceSmart (NASDAQ:PSMTGet Free Report) last issued its earnings results on Wednesday, April 10th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. PriceSmart had a return on equity of 11.85% and a net margin of 2.62%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. As a group, research analysts anticipate that PriceSmart, Inc. will post 4.64 earnings per share for the current year.

PriceSmart Dividend Announcement

The business also recently disclosed a None dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 19th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, April 18th. PriceSmart’s dividend payout ratio (DPR) is presently 29.15%.

PriceSmart Profile

(Free Report)

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.

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Institutional Ownership by Quarter for PriceSmart (NASDAQ:PSMT)

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