Corebridge Financial Inc. Sells 1,055 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Corebridge Financial Inc. lessened its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 7.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,342 shares of the company’s stock after selling 1,055 shares during the period. Corebridge Financial Inc.’s holdings in PriceSmart were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. EdgePoint Investment Group Inc. increased its stake in PriceSmart by 2.7% in the third quarter. EdgePoint Investment Group Inc. now owns 2,818,927 shares of the company’s stock valued at $258,721,000 after acquiring an additional 74,201 shares during the period. American Century Companies Inc. grew its stake in shares of PriceSmart by 4.1% in the 4th quarter. American Century Companies Inc. now owns 1,230,696 shares of the company’s stock valued at $113,434,000 after purchasing an additional 48,108 shares during the period. Geode Capital Management LLC raised its holdings in shares of PriceSmart by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 684,870 shares of the company’s stock worth $62,868,000 after buying an additional 25,216 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of PriceSmart by 29.2% during the 4th quarter. Copeland Capital Management LLC now owns 621,697 shares of the company’s stock worth $57,302,000 after buying an additional 140,515 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in PriceSmart by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,876 shares of the company’s stock valued at $41,834,000 after buying an additional 15,359 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

PriceSmart Price Performance

Shares of PriceSmart stock opened at $85.23 on Friday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 18.77 and a beta of 0.84. The firm’s 50-day moving average price is $88.74 and its two-hundred day moving average price is $90.14. The company has a current ratio of 1.26, a quick ratio of 0.43 and a debt-to-equity ratio of 0.08. PriceSmart, Inc. has a 1-year low of $77.51 and a 1-year high of $99.23.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, January 8th. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.22). PriceSmart had a return on equity of 12.29% and a net margin of 2.76%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $1.24 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts predict that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.63 dividend. The ex-dividend date was Tuesday, February 18th. PriceSmart’s dividend payout ratio is 27.75%.

Insider Buying and Selling

In other PriceSmart news, Director Gordon H. Hanson sold 1,107 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $87.22, for a total value of $96,552.54. Following the completion of the transaction, the director now directly owns 6,862 shares of the company’s stock, valued at approximately $598,503.64. The trade was a 13.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Mccleary sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.67, for a total transaction of $358,680.00. Following the sale, the chief financial officer now directly owns 58,141 shares in the company, valued at $5,213,503.47. This trade represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,162 shares of company stock worth $1,930,402 in the last 90 days. Corporate insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded PriceSmart from a “hold” rating to a “buy” rating in a research note on Monday, March 10th.

PriceSmart Company Profile

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.