Vest Financial LLC Boosts Stock Position in PriceSmart, Inc. $PSMT

Vest Financial LLC raised its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 22.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,552 shares of the company’s stock after purchasing an additional 8,224 shares during the quarter. Vest Financial LLC’s holdings in PriceSmart were worth $4,785,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PSMT. Wealth Enhancement Advisory Services LLC purchased a new stake in PriceSmart during the 4th quarter valued at about $261,000. Handelsbanken Fonder AB grew its stake in PriceSmart by 33.0% during the 1st quarter. Handelsbanken Fonder AB now owns 8,858 shares of the company’s stock valued at $778,000 after purchasing an additional 2,200 shares during the last quarter. Fifth Third Bancorp grew its stake in PriceSmart by 119.7% during the 1st quarter. Fifth Third Bancorp now owns 635 shares of the company’s stock valued at $56,000 after purchasing an additional 346 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in PriceSmart by 21.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,276 shares of the company’s stock valued at $1,430,000 after purchasing an additional 2,868 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in shares of PriceSmart in the 1st quarter valued at about $201,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analysts Set New Price Targets

PSMT has been the subject of several analyst reports. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reissued a “buy (b)” rating on shares of PriceSmart in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Insider Transactions at PriceSmart

In related news, EVP Francisco Velasco sold 550 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $122.82, for a total value of $67,551.00. Following the completion of the transaction, the executive vice president owned 80,548 shares of the company’s stock, valued at approximately $9,892,905.36. This represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Mccleary sold 9,754 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $110.62, for a total value of $1,078,987.48. Following the completion of the transaction, the executive vice president directly owned 47,082 shares of the company’s stock, valued at $5,208,210.84. The trade was a 17.16% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.10% of the company’s stock.

PriceSmart Stock Performance

NASDAQ PSMT opened at $123.51 on Tuesday. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 26.06 and a beta of 0.83. PriceSmart, Inc. has a twelve month low of $81.25 and a twelve month high of $124.59. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $114.14 and a 200 day moving average of $106.24.

PriceSmart 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.